PORTLAND, OR and LONDON, UNITED KINGDOM--(Marketwired - Nov 1, 2016) - iovation, the provider of device intelligence for authentication and fraud prevention, today announced it will host its first-ever iovation Telco User Group in London on Nov. 10 from noon to 4pm GMT. The user group provides a platform for telco professionals to collaborate in-person about fraud prevention strategies and hear from industry experts about how to reduce friction for trustworthy customers. The user group complements iovation's multi-industry global summits -- enabling telco professionals to address fraud threats specific to their industry and region.
"After analyzing all telco transactions that iovation screened for fraud this year, credit card theft, true identity theft and account takeover were by far the most prevalent abuses -- resulting in two percent of transactions being denied," said Connie Gougler, director of marketing at iovation. "These latest schemes are difficult to track and investigate due to the evasion techniques used, frequency of attacks and their global nature. By facilitating face-to-face discussions between our telco clients, they can strategize about the most effective methods to get ahead of attacks."
In addition to reviewing the most prevalent telco fraud schemes, attendees will discuss detecting and preventing additional types of abuse -- including defaulting on carrier plans, first-party fraud, policy and license agreement violations, and application fraud.
Attendees will also share how the following actions or combination of actions could indicate fraud risk:
- An account or device has transactions associated with a specific type of fraud, such as account takeover or credit card fraud
- Transactions originate from known high-risk regions
- The length of time that a device has been known, or a device and account have been paired, has not met minimum requirements
- Device anomalies are identified, which may indicate attempts by the user to evade detection with use of a proxy, Tor or virtual machines
- Specific risk criteria for mobile devices are met -- for example devices are jailbroken or rooted, or an emulator is in use
For more details and to register for the Telco User Group, go to http://bit.ly/2dGpfEP.
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 300,000 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.