As we continue to learn more about how cyber criminals operate, online businesses continue to seek out effective countermeasures against organized fraudsters committing fraud and abuse. Trying to fight fraud alone can be a losing battle. No matter how much information your business has collected to stop criminals, there is a growing number of sophisticated fraudsters out there who are constantly changing their identities and the profile of their computers, to perpetrate fraud across a multitude of verticals.

One of the most effective ways to defend your enterprise is by working together and sharing information with other fraud teams across multiple industries. Interacting with a centralized, global network of fraud intelligence arms you with information upfront to minimize your chances of having to take that first hit.

Fraud management solutions such as iovation ReputationManager draws upon the power of fraud teams working together with a common goal — to proactively defend their enterprises against a variety of sophisticated forms of fraud and abuse. Instead of trying to recognize every changing identity or device profile used by fraudsters on your own, with iovation once a device has been identified and submitted to the shared  database (containing  more than 300 million devices), fraud analysts are alerted in real-time when a suspect device accesses their website, even if the computer’s configurations changed since its previous visit.

Sharing device information across a large, centralized shared network utilizes fraud intelligence effectively and exposes otherwise hidden device and account relationships  across networks and across industries, so you can make fast, educated decisions for accepting, denying, or flagging online transactions for review.

Subscribers of iovation see on average, 17% of their devices cross between multiple industries.  For example, the same computer that accessed an online dating site and committed fraud, may then access an online retail site and later a massively multiplayer online gaming site. As today’s fraudsters use personal information they’ve stolen from social networks to commit fraud against other industries, having a tool that provides the intelligence needed to stop fraud across multiple industries is a critical component to a comprehensive fraud prevention strategy.

Tags: cyber criminals, device reputation, iovation, ReputationManager

This entry was posted on Sunday, June 6th, 2010 at 3:31 pm and is filed under Financial Services, Online Communities, Online Gambling, Online Gaming, Online Retail. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.