SOURCE: 41st Parameter

41st Parameter

November 15, 2012 13:40 ET

41st Parameter Addresses Heightened Fraud Threat During Busy Holiday Season

Fraud Prevention Leader Helps Retailers With Increased Transaction Capacity, Bandwidth and Fine-Tuning to Enable Sales

SAN JOSE, CA--(Marketwire - Nov 15, 2012) - 41st Parameter, the global leader in fraud detection and prevention, has introduced a number of infrastructure improvements to help retailers reduce the risk of fraud during the critical holiday shopping season. With all the excitement and revenue opportunities the holiday season brings to retailers, there are also unique challenges that must be addressed. The threat of fraud increases disproportionately to transaction volume and puts retailers at greater risk at exactly the time they are poised to reap their greatest rewards. Fortunately, 41st Parameter understands the problem and has further bolstered its infrastructure just in time for the holiday rush.

Retailers have limited options to deal with the threat of fraud during peak periods -- and the holidays are their critical season. They can dial down their security to allow more transactions but this will also allow more fraudulent transactions to slip through undetected. Alternatively, they can tighten security to decrease the risk of fraud -- but this generates more false positives, requires more manual review of suspicious transactions and turns away too many legitimate and loyal customers.

"Retailers realize they face fraud," said Ori Eisen, founder, chairman and chief innovation officer of 41st Parameter, "and have typically taken one of the two approaches described above. We offer a third model -- one that has proven to be much more effective. FraudNet for Transactions is able to detect and prevent fraud with minimal manual review or letting the fox into the henhouse. It meets the needs of retailers and -- thanks to enhancements to our infrastructure -- is able to scale to meet the added fraud detection demands of the holiday shopping season. This is critical because transaction volumes on the busiest days can be as much as 10 percent higher than on an average shopping day."

FraudNet accurately detects and prevents fraud from diverse attack types without impacting a retailer's ability to sell during this critical sales season. To help with the holidays (and beyond), 41st is providing the following improvements to its clients at no additional cost:

  • Doubled current daily transaction capacity. Online sales increase year-over-year, making it imperative for solution providers to offer high capacity transaction capabilities.
  • Increased internal network bandwidth by over eight times to accommodate increased demand through the holidays.
  • Fine-tuned risk models, created in conjunction with leading e-commerce customers, to meet the special needs of holiday shoppers and to ensure fraudsters cannot exploit the heavier traffic to hide their attacks.
  • Doubled support staffing to provide customers the extra care and attention they need during the busy holiday season.

FraudNet ensures that retail companies can satisfy customer demand, optimize sales potential and reduce the threat of fraud at scale without impacting customer satisfaction and loyalty. For more information on fraud prevention for e-commerce, please visit: http://www.the41st.com/industries/fraud-prevention-ecommerce.

About 41st Parameter
In a world where people are increasingly reliant on a variety of Internet-connected devices for everything from banking to shopping to entertainment and media, creating relevant customer experiences and preventing online fraud are constant business challenges. 41st Parameter, the global leader in device recognition and intelligence, combines patented technologies and years of expertise to identify devices without cookies, without compromising privacy and without impacting performance. AdTruth, the digital media division, gives marketers a better way to recognize and reach their most valuable audiences across all types of devices. The company's FraudNet platform protects businesses from fraud before it happens. These privacy compliant solutions help keep the Internet more secure and relevant for everyone.