A few week’s back, I wrote how iovation’s fraud prevention service had been named as a finalist for the 2011 Red Herring 100 Global Award. This week we are proud to announce that iovation was named a Top 100 Global Company.

It’s truly an honor to follow in the footsteps of some of the most recognizable technology companies in the world such as Google, YouTube, Skype and eBay, who have all been previously selected to Red Herring’s prestigious Top 100 Global list.

This recognition is a direct result of years of hard work evolving our fraud protection service into a full spectrum device reputation solution that supports native and web integrations for mobile and desktop devices, tagged and tagless device recognition, real-time transparent risk scoring, and on-demand and scheduled reporting. Our remarkable growth is attributed to the collaborative work and effectiveness of our global device intelligence network, which today protects billions of transactions for our clients representing multiple industries around the globe. (more…)

Helping online businesses effectively and efficiently fight online fraud and abuse is our No. 1 goal here at iovation. And according to the team at Red Herring, we have performed exceptionally. For our work in stopping more than 50 million online fraud attempts for our customers this year, we are proud to announce that iovation’s fraud prevention service has been named a finalist for the 2011 Red Herring 100 Global Award.

For the 2011 Global Award, the Red Herring editorial team selected companies demonstrating the most innovative technologies and business models originating from over 1,000 companies from over 40 nations. The companies are judged on a range of qualitative and quantitative metrics, including technology innovation, financial performance, growth criterion, management’s execution standards, potential globalization of the strategy and market share improvement.

The 2011 Global finalists will be featured during the Red Herring event taking place at the Hyatt Regency Century Plaza on December 5-7, 2012. iovation’s CEO, Greg Pierson, will be presenting iovation’s winning strategy on Tuesday, December 6th and on the last night of the event, the Global winner will be announced. If you are attending the event and would like to schedule time to chat with Greg Pierson, please email info@iovation.com.

Black Friday, the day after Thanksgiving, kicks off the holiday shopping season. Retailers advertise Black Friday bargains in order to lure you through their doors.

As far back as I can remember, police have been warning of thieves who target cars in parking lots, smashing windows to steal shopping bags left in plain sight. Then, we’d be warned that as the Christmas lights went up, thieves would target the wrapped gifts underneath the tree. I thought, “It can’t get worse than this?”

Then Cyber Monday came along. It was born as a marketing opportunity that has taken on a life of its own over the past five or six years. Online retailers promote their Cyber Monday offers throughout the fall, creating hype that whips shoppers into a frenzy. It’s become as essential to the retail community as Black Friday. (more…)

Retailers can temporarily rejoice (for about a minute) now that six cyber villains have been caught in two different international credit card fraud rings.

The Register reports, “After investigations that began in 2009, the police executed three search warrants in metropolitan Sydney, retrieving EFTPOS terminals, computers, cash, mobile phones, skimming devices, and several Canadian credit cards. Other seizures in the two-year investigation have included 18,000 blank and counterfeit credit cards, stolen EFTPOS terminals, and skimming devices. The men arrested are Malaysian and Sri Lankan nationals, and are accused of coordinating the fraud operation in Australia, North America and Europe.”

Meanwhile, “a Brooklyn man has pleaded guilty to aggravated identity theft for his role in an operation that defrauded credit card issuers of almost $800,000 in bogus charges. FBI and Secret Service agents recovered data for 2,341 stolen accounts on his computer and on the magnetic stripes of cards, according to court documents.” (more…)

For banks around the globe, protecting customer accounts is becoming more challenging as cyber criminals work together to create more sophisticated attacks with the aim of defeating existing security measures. In fact, fraudsters have become so efficient at figuring out new ways to access critical data from a bank’s IT system that the article,“European banking industry lacks guidance to combat cybercrime,” suggests that the entire ecosystem — from government to banks — should take a cue from the criminals themselves.

The requirements for making any top business list is revenue growth. The prestigious Inc. 500/5000 is no different. This list considers the percentage of revenue growth over the previous three years to rank the fastest growing private companies in America.

Once again, iovation is proud to be named to Inc. magazine’s 5th annual 500/5000.

Much of our growth in terms of revenue and the size of our fraud-fighting network has been with online banks and credit card issuers. The number of device reputation queries performed by our fraud protection service has grown 938% since 2007, while the number of devices managed in our global device reputation database has increased 2,492% over the same period, reaching more than half a billion devices worldwide.

In the Inc. 5000 ranking, we are the 45th fastest-growing private company in the Portland, Ore. region, and 62nd in U.S. security companies.

As online businesses continue to build safer environments that detect and stop evolving forms of fraud and abuse, our B2B SaaS solution exposes the reputations of all types of Internet-connected devices (desktops, tablets, smartphones) and hidden relationships between devices inside and outside corporate networks. The webs of associations that iovation’s ReputationManager 360 uncovers allows organizations across multiple industries to instantly detect and shut down fraud, abuse and other online crimes before their business and customers are impacted. (more…)