iovation will be demonstrating at the Develop Conference in Brighton, July 29-31. Be sure to stop by Stand B31 to learn how iovation’s device reputation service can help your online gaming site reduce loss from fraud exposure and improve efficiency within your fraud management process. And while you’re there, don’t forget to enter to win a free Honda Repsol Replica 49cc Pocket Bike. The bike will be given away at the show. (more…)

It is well known that cybercriminals will take advantage of every given opportunity to commit fraud. Whether it’s scamming Internet retailers during the busy holiday shopping season or spamming individual’s filing their taxes, where there’s a will there’s a way for today’s innovative fraudster. The summer holidays are no different. (more…)

A recent article in Dark Reading suggests that while there have been several attempts in the U.S. for groups to band together to combat online fraud and abuse, nobody is successfully doing it today. (more…)

There was a recent BBC investigation report that revealed just how easy it is for online criminals to buy and sell credit cards details on the Internet. One of the calls to action in the piece is that the Government, in this case the UK, needs to take stronger action against online theft. (more…)

We are thrilled to be featured in the June Bank Technology News article, Ten Technology Companies to Watch 2008. As we continue to provide additional value to our customers in reducing online fraud and abuse, as well as their operational costs, it is gratifying to be recognized for the increasing presence across industries like financial services. (more…)

While at the RSA show, I sat down with BankInfoSecurity to discuss the major business trends in fraud management. In the podcast interview, we discussed how financial institutions, along with all other industries, are seeing a lot more organized fraud occurring in their space, and what available technologies online businesses are looking at to add to their existing techniques to not only catch more fraud, but reduce their operational costs and protect their brands. (more…)

I just got back from the RSA Conference in San Francisco and I was really struck by the number of security vendors out there and how many of them are either insurance vendors or simply provide a means for complying with government regulations. I have actually worked in that world for over 14 years and know about the difficulty in that type of sale and the challenge of being perceived as a cost center. I feel very fortunate to be in a business where the essential pitch is – spend $1 save $10. (more…)

In a recent article on The Article Manual, Brandi Cummings highlighted some interesting dilemmas in online commerce that lead to over $3 billion in online losses to fraud over the last year. One of the most interesting dilemmas is that with many of the newest fraud management techniques, such as requiring address verification, as well as card verification (i.e. CVV2, CID, etc), the fraudsters are simply stealing that information along with the credit card number and other personal information. (more…)

Yesterday on silicon.com, Andy McCue wrote about the shortcomings of law enforcement in addressing e-crime. This has been the case since the beginning of the Internet and will continue to be the case into the near future. The problem stems from the very strengths that make the Internet so powerful. That is, it creates instant worldwide connectivity to online resources. (more…)

iovation recently returned from this year’s Merchant Risk Council (MRC) in Las Vegas. It was a terrific show! We met online retailers and demonstrated how our device reputation fraud management services defend online merchants from sophisticated and organized fraud tactics. I wanted congratulate all of the winners of our “Spin the Wheel to Win a Playstation 3″ contest — Nancy Meyer, Digital River, Inc.; Tim Westland, Kingston Technologies; Patrick Thompson, Genica Corporation (Geeks.com); and Martin Herlinghaud, arvato financial services Ltd. They each walked away with one of the hottest games on the market. You can imagine the heroes they were when they got home. (more…)

A recent article on Tech Confidential highlighted the growing fraud management problem inside the massively multiplayer online game MMOG industry. During a discussion at the recent Game Developers Conference in San Francisco, industry veterans highlighted the ongoing problem of credit card fraud and chargebacks from a variety of sources. One of the most troubling problems is the use of stolen or manufactured cards that get used to pay for in-game assets or gaming cards and then get charged back. Many times these chargebacks originate from organized fraudsters who use stolen credit information to perpetrate the fraud. (more…)

There is an interesting article in Internet Retailer that notes that “with e-commerce growing at 20% or more per year, larger merchants will be faced with screening more and more online orders, representing a major challenge to the extent that review processes involve manual review.” They go on to add that, “Only 24% of the 404 online merchants surveyed say they have budgeted to boost manual review staff this year to support higher order volume.” (more…)

In her report titled “Best Practices in New Account Fraud Detection“, Gartner Group analyst Avivah Litan points out the benefits of several different fraud screening techniques that online businesses can use to help identify fraud at the time of account creation. She recommends companies should use Client Device Identification and identified iovation as one of the providers of that technology. This is more confirmation that the use of device-based fraud management techniques is becoming a more critical element of online fraud management strategies. There is still education, however, that needs to be done about the power of using device identifiers to create a shared device reputation network and how that can benefit companies combating fraud and abuse online. (more…)

Love is in the air for the 1,000-plus U.S. online dating sites that make up the profitable industry. According to a recent Time/CNN article, Jupiter Research reported the online dating market cashed in $649 million in revenue in 2006 alone! (more…)

Since iovation is in London this week presenting at the ICEi Gaming conference, this Internet Retailing article caught my eye showing that current fraud management costs even for medium size businesses in the UK are upwards of 160,000 pounds per year. (more…)