NAMING AND SHAMING
01st February, 2011 at 05:18:58
Thousands of virtual crime fighters combine to clobber fraud
Online businesses collaborating with each other by using Iovation's device reputation service stopped 35,000,000 fraud attempts in 2010 - the company's most successful year in helping make the Internet a safer place to interact and conduct business.
Highlights for the year included:
* Total unique devices, including computers, tablets and mobile phones, in Iovation's shared database grew by 113 percent, bringing the total number of unique devices to 500 million.
* Total crime experiences reported, such as financial fraud, identity theft, scams, code hacking and account takeovers, grew by 76 percent, totaling more than 4 million events associated with devices and accounts.
* Daily device reputation checks processed increased by 59 percent, to over 6 million daily requests.
* Industry crossover continues to provide uplift for customers. 33% of fraudulent activities detected in 2010 were influenced by the experiences of other Iovation customers.
* In the online gambling industry, over 65% of risky transactions were flagged due to prior knowledge of financial fraud in other verticals such as financial services, retail and social networks.
* Countries showing the largest percentage of transactions denied in 2010 included Ghana, Nigeria, Romania, Korea and Israel. Other countries near the top included Cote d'Ivoire, Columbia, Argentina, Philippines and Malaysia.
Related News Tags: Philippines, Romania, South America