While everyone here at iovation is ecstatic about making the Portland Business Journal’s 2011 list of the Top 100 fastest-growing privately held companies, none of this would have been possible without the outstanding customer service our employees have provided through the years. (more…)

Poor security policies… Significantly lacking basic monitoring of security events… No immediate plans to put adequate data security measures in place… These are the disturbing conclusions of a recent study by IDC Retail Insights, which surveyed retailers across Europe, the Middle East and Asia (EMEA) about where they are at in their data protection policies and practices.

According to the article, “Retailers are not protecting data security,” the report found that only 46% of EMEA retailers have actually put policies in place to deal with exchanges on blogs or social networks. That’s a scary thought when you consider the increase of online and mobile interactions that are taking place around the globe.  (more…)

Finding true love online, whether it’s through the right look, poetic flattery or simple mutual interests, is tough for the millions of hopeless romantics looking to find that special someone. Often times, finding Mr. Right is like searching for a needle in the haystack as those looking for love spend countless hours carefully sorting through endless personal profiles until something catches their eye. (more…)

With so much personal information easily accessible over the Internet, why would cyber criminals go to the trouble of cracking codes or breaking through virtual back doors of retail websites when they can simply pose as legitimate customers and walk right through the front door?

According to the article, “Hackers coming in through the front door,” more and more cyber criminals are creating virtual disguises that are indistinguishable from a legitimate customers, allowing them to make what appears to be valid online purchases right under a merchant’s nose. This type of deceptive fraud tactic not only impacts online merchants’ sales and profits, but is changing the way businesses protect their online retail environments. (more…)

I’m very proud to announce that iovation was recently positioned in the Visionary Quadrant of Gartner’s 2011 Magic Quadrant for the Web Fraud Detection. For a security provider who’s been helping customers across many industries prevent online fraud since 2004, we are pleased to receive this position in the analyst firm’s annual report.

The Visionary section of the Magic Quadrant recognizes security vendors whose products are easy to implement and have successfully reduced online fraud for their customers.   (more…)

I couldn’t be more thrilled upon learning about iovation being named as a finalist for the 2011 Red Herring Top 100 North American Award. It’s a real honor to be in the company of North America’s best high technology innovators, who are making significant impacts in the respective markets they serve.

Being recognized as a finalist for this prestigious award, which looks at technological innovation, financial performance, execution of strategy and management strength of private technology ventures, is a testament to our continued success in protecting the world’s largest brands from online fraud and abuse like credit card fraud, account takeover, chargebacks, money laundering and identity theft, to name a few.
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It’s been described as the event that has the greatest potential for credit card fraud to ever occur in U.S. history. Fraud experts are saying that the recent Sony PlayStation Network data breach, in which hackers stole information on 77 million customers, could easily spill over to online retailers market if the cyber criminals got their hands on members’ credit card numbers.

In the Internet Retailer article, “Sony data breaches highlight the fraud risks online retailers face,” it was first disclosed that hackers made off with customers’ names, street addresses, email addresses and dates of birth. However, updated reports now say that up to 10 million credit cards may have been compromised. (more…)

Every day iovation assesses risk on more than 7.5 million transactions for the online customers that we protect around the globe. France ranks third by country, just behind the United States and United Kingdom, in the total volume of Internet traffic from any country that we protect. As you would imagine, France is a very important market for us. It is growing and as we continue to expand our international footprint, France will play a vital and strategic part in our growth.

As part of our effort to expand our device identification, device reputation and real-time risk mitigation services for online businesses in France, I am pleased to announce that Philippe Mazurier has joined iovation as Country Manager, heading up sales and business development and is based in Montpellier.

Philippe brings strong business relationships and deep, in-market experience that will be instrumental in helping us meet online fraud protection demands in this market. He understands the serious and damaging impacts that cybercrime has on online businesses.

As we continue to serve the French market, protecting e-commerce, financial services, gaming and online communities from fraud and abuse, having a seasoned veteran in authentication and fraud prevention services representing iovation will help us serve this market even better.

To arrange meetings with Philippe to talk about any fraud or abuse issues your company is experiencing, please email france@iovation.com or call +33 (0)6 69 79 12 33.

Since our inception, the online gaming industry has been a very important sector for us. This is why I am so excited that iovation’s ReputationManager 360 has been awarded Casino Journal’s Top 20 Most Innovative Technologies in Gaming Award, which recognizes outstanding fraud prevention services helping international online gaming companies stop fraud and abuse.

With criminals targeting online casinos around the clock (we’ve got the data to prove it!), gaming sites need all the help they can get to rid their tables of costly criminal activity such as credit card fraud, chargebacks, account takeover and player collusion. Leveraging iovation’s global database of over 600 million unique devices, our gaming customers gain deep insight into every device, whether it’s a PC, smartphone or tablet, attempting to login or play on their site. Using customizable business rules that allow them to assess risk at various integration points, online gaming providers will spot characteristics that are consistent with fraud and abuse to stop criminals before they strike. (more…)

As we all know, the Internet has done wonders for many businesses and for the global economy as a whole. Unfortunately, the same technology that revolutionized the way we communicate with each other has also created a fertile environment for inventive criminals.

Online crimes like credit card fraud and identity theft continue to cost businesses and individuals billions of dollars each year, and President Obama has now rattled his sabres about making it a top priority to fight cybercrime. In a recent International Business Times article, “Obama: Online Fraud Costs The Average Victim 130 Hours, $631,” we find that the Obama administration’s National Strategy for Trusted Identities in Cyberspace (NSTIC) aims at developing a program to ensure the safety and security of transactions over the Internet. (more…)

It’s a trend that has stood the test of time. Whenever something is a hit with consumers, everybody wants a piece of it. The same is true for cyber criminals, who are basically opportunists that operate on the wrong side of the law. Every time a new technology or social networking service hits a cord with the mainstream, hackers aren’t far behind.

While we know fraudsters can’t resist a sure thing, Craig Scroggie, vice president and managing director of Symantec in the Pacific region, said most of the time consumers turn a deaf ear to such warnings until it is too late. In the article, “Cybercrime to hit tablets,” Scroggie, who has warned consumers about potential threats to email, fake websites and computers in the past, is at it again. This time he says the proliferation of smartphones and tablet devices will soon face the same type of attacks PC owners have long suffered. (more…)

With fraud more pervasive than ever, one would think organizations and their financial institutions are taking every precaution to prevent malicious activities like corporate account takeover and fraud. But a recent study found that over the past year, there has been little to no improvement in small and medium-sized businesses’ ability to prevent fraudsters from stealing money from small business accounts that have been compromised.

In the article, “Independent Study Reveals Corporate Account Takeover Fraud Continues to Plague SMBs and Banks,” the 2011 Business Banking Trust Study found that SMBs have struggled to make progress in stopping payments fraud as 56% of businesses said they had experienced fraud within the last 12 months. While 61% said they were victimized more than once over that period, 75% of businesses participating in the study said they experienced online account takeover and/or online fraud.

With mobile banking growth rates on the rise, these findings are alarming to Dr. Larry Ponemon, chairman and founder of the Ponemon Institute, which commissioned the study. With 38% of respondents saying they access their company’s banking accounts from mobile devices such as smartphones and tablet PCs compared to 23% in 2010, Ponemon doesn’t anticipate things turning around for SMBs anytime soon.. (more…)

As an online fraud prevention company, our goal at iovation is simple: To protect our clients from harmful online activity that can negatively impact their business and customers. Improving our clients’ businesses by greatly reducing fraud and abuse rates is the ultimate reward. Being recognized by our peers is just icing on the cake. This week, we were proud to announce that we had our cake and ate it, too.

On Monday, we were named by AlwaysOn and industry experts as one of the 2011 OnDemand Top 100 winners, which recognizes leadership and game-changing approaches and technologies likely to disrupt existing markets and entrenched players. iovation was chosen for our unique ability to detect online fraudulent activity in real-time and keep our clients’ businesses and customers safe. (more…)

As Internet advancements change the competitive landscapes of industries across the globe, fraud prevention mechanisms are essential to filter online payments and flag or stop suspicious transactions.

According to the article, “Securing Internet Payments,” 70% of all fraudulent credit card transactions originate from card-not-present (CNP) transactions. This has a substantial impact on the public’s confidence using their credit card for online transactions. Lacking the capability to prevent unauthorized transactions and associated fraud and abuse ultimately trickles down to Internet-based businesses’ bottom line revenues and profits. (more…)

When it comes to building and maintaining a strong online reputation, organizations know that perception is reality. That’s why many Internet-based companies are proactively taking additional security measures to ensure the safety of their customers and websites. It’s a key strategy for preserving a safe and reputable brand reputation.

But what happens when industry perception is beyond your control? Can online businesses protect themselves from consumer perceptions of the industry as a whole? And what kind of impact can consumers’ fears of shopping online have on online merchants? (more…)