PORTLAND, OR--(Marketwired - Jul 30, 2013) - iovation, stopping Internet fraud and identifying good online customers with the world's most comprehensive device reputation database, today announced the addition of a number of new capabilities that increase businesses' control and flexibility when fighting fraud. The flagship feature, compound business rules, enables businesses to add sophisticated rule combinations to ReputationManager 360, iovation's service that leverages current and past device behavior intelligence to stop fraud. By enabling a business to adapt what fraud indicators it looks for, iovation has enhanced what was already the industry's most advanced tool, uniquely tuning it to address a dynamic fraud environment.
"No business or customer is exactly alike so it is essential that fraud fighting tools are highly adaptable as scenarios and risk tolerances warrant," said Jason Malo, Research Director for CEB TowerGroup. "Businesses who are able to quickly adjust to risk, customer preference, and evolving criminal tactics more efficiently manage fraud and ensure good customers are not impeded by additional security measures."
With compound business rules, iovation enables its customers to combine several existing ReputationManager 360 business rules into a single rule, using the "and," "or" and "invert" functions, which results in more precise control to identify and stop a given fraud event. For example, a business can decide to more closely review transactions if they are originating a transaction from outside the United States AND are accessing an existing account from a new device. Compound business rules increases fraud catch accuracy and reduces "false positives," saving time and operational expense.
In addition to compound business rules, other new ReputationManager 360 features include:
- Mobile Emulation Detection -- Targets attacks originating from PCs posing as mobile devices. Cybercriminals employ this method to confuse and bypass traditional fraud prevention technologies by mimicking features of a typical mobile device.
- New Device Identification -- Flags transactions if a new device attempts to access an account that is already known to iovation. It could be used to trigger out-of-bound authentication with phone verification.
- Velocity by rule set -- Enables the ability to count transactions that occur at specific customer touch points, such as at login and account creation. For example, detecting a high number of login attempts could indicate that a cybercriminal is testing passwords, attempting to break into an account.
- Additional rules for Real IP -- Provides more options for which IP addresses and associated geolocation information are considered.
"As the digital age has evolved, so have cybercriminals. They are now part of huge cybercrime syndicates that are constantly sharing tools and adapting techniques to perpetrate their fraud," said iovation Vice President of Product, Scott Olson. "Fraud prevention isn't an event, it's a process. By introducing these latest features, we are ensuring our growing list of customers have the levers they need to pull at a moment's notice to stay one step ahead of cybercriminals."
With its ReputationManager 360 service, iovation tracks the online behavior of about 1.5 billion devices from around the world; everything from desktops to laptops, mobile phones to tablets, and gaming consoles to smart TVs. By utilizing iovation's device reputation intelligence gathered across its network of hundreds of customers and thousands of security professionals, businesses can determine whether any device has been or is likely to be a source of fraudulent transactions. With this intelligence, iovation stops more than 150,000 fraud attempts daily, proactively identifying devices that are associated with abuse and stopping bad actors before they can strike.
These new ReputationManager 360 features are available at no additional charge. Clients can find more information about these new enhancements in iovation's Fraud Force Community.
About iovation
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation's database of Internet devices and the relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, insurance, social network, gaming and other companies make real-time queries to iovation's knowledge base of more than 1.5 billion devices from every country in the world. Clients also leverage iovation's Fraud Force Community, an exclusive virtual crime-fighting network of the world's foremost security experts, to share intelligence about cybercrime and prevention techniques. Every day, iovation stops more than 150,000 fraud attempts. For more information, visit www.iovation.com.
Contact Information:
CONTACT:
iovation Inc.
Connie Gougler
503-943-6748