iovation, the provider of device intelligence for authentication and fraud prevention, today announced it will host a webinar entitled “Fighting CNP Fraud: 5 Things to Consider” . In the webinar, iovation’s Eddie Glenn will walk through a real-world card-not-present (CNP) fraud case and discuss how advanced device intelligence helped stop a fraud ring that was using stolen identities.
“In the U.S., we’re seeing a sharp rise in CNP fraud following the widespread implementation of EMV, or chip and PIN, cards last fall,” said Glenn. “Also contributing to the increase is recent major data breaches that have made stolen information available to cybercriminals.”
With the EMV shift underway in the U.S., fraudsters are increasingly migrating online for their schemes, as they did previously in other countries. For instance, after France implemented EMV cards it saw card-present fraud drop by 35 percent between 2004 and 2009, but domestic CNP fraud losses increased more than 360 percent in that same time span.
In addition to explaining how CNP fraud can grow extremely quickly and how advanced device intelligence helped track down the aforementioned fraud ring, Glenn will also address the top five ways to combat CNP fraud. This includes:
- Leveraging an advanced global device intelligence network to fight CNP fraud
- How separating user identity from device identity is imperative to reducing fraud
- The criteria for selecting a global device intelligence solution
For more details and to register for the upcoming webinar, go to https://www.iovation.com/news/events/cnp-fraud-5-things-to-consider.
iovation protects online businesses and their end users against fraud and abuse, and identifies trustworthy customers through a combination of advanced device identification, shared device reputation, device-based authentication and real-time risk evaluation. More than 3,500 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation’s database of billions of Internet devices and the relationships between them to determine the level of risk associated with online transactions. The company’s device reputation database is the world’s largest, used to protect 15 million transactions and stop an average of 250,000 fraudulent activities every day. The world’s foremost fraud experts share intelligence, cybercrime tips and online fraud prevention techniques in iovation’s Fraud Force Community, an exclusive virtual crime-fighting network. For more information, visit iovation.com.