Naming And Shaming

NAMING AND SHAMING

01st February, 2011 at 05:18:58
Source: http://www.azonlinecasinos.com

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.

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