On a daily basis iovation detects, on average, more than 300,000 attempted fraud cases across its international network, so staying one step ahead of the fraudsters is an on-going challenge the company embraces. There are many industries that have seen a significant increase in the volume of these attacks, specifically in industries such as insurance, retail, banking and travel.
The insurance industry is plagued by a variety of fraud schemes which are facilitated at different points in the customer lifecycle. Whether it is at point of quote, a claim registration, a login to an online policy management account or other interactions, without device forming part of a layered risk check, fraud may not be detected using traditional prevention tools. By understanding who you are dealing with – and what device you are doing “business” with – will help you make better-informed decisions.