SOURCE: iovation

iovation

April 02, 2014 08:15 ET

iovation Offers Eight Ways to Reduce eCommerce Fraud

Webinar to Prevent Cybercrime, Improve Customer Experience and Increase the Bottom Line

PORTLAND, OR--(Marketwired - Apr 2, 2014) - iovation, stopping Internet fraud and identifying good online customers by leveraging the world's largest device reputation database, will co-host a webinar with ID Analytics -- Eight Ways to Reduce eCommerce Fraud. Scott Olson, iovation's vice president of product, and Aaron Kline, ID Analytics' director of eCommerce solutions, will lead the webinar and outline ways online retailers can reduce fraud costs while enhancing the customer experience on May 13, 2014, at 10:00 a.m. Pacific Daylight Time.

"Chargebacks, credit card fraud, account takeover and other forms of fraud plague card-not-present (CNP) transactions in online and mobile channels with related losses totaling $3.5 billion in 2012 alone,1" said Olson. "The goal is to catch fraudsters early, before transactions are complete and retailers incur a loss. In this webinar, we'll detail techniques and technology that can be used to provide protection while maximizing the bottom line."

The webinar will show attendees how to:

  • Choose the right customer touch points to optimize fraud control
  • Leverage device intelligence to combat evasion techniques and reveal evidence of prior fraud
  • Examine the identity behind the device, to see if past online and offline behavior reveals risk
  • Combine identity and device insights to reach an actionable decision on the risk transaction
  • Use transaction information you already collect to predict the likelihood of chargeback
  • Reduce operating expenses around manual transaction reviews
  • Introduce shared fraud history from online and offline transactions to help combat fraud
  • Select an effective order of authentication steps to minimize customer friction

According to Kline, "Customer experience drives both conversion and repeat business. When retailers examine their fraud prevention strategy, it is a delicate balance between cybercrime prevention and a good customer experience. Excessive security checks can drive legitimate customers away, while insufficient protections can lead to dramatic financial losses."

For more information and to register for this webinar, go to https://www.iovation.com/resources/webinars/register/8-ways-to-reduce-ecommerce-fraud.

ABOUT IOVATION

iovation protects online businesses and their end users against fraud and abuse through a combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 2,300 fraud managers representing global retail, financial services, insurance, social network, gaming and other companies leverage iovation's database 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 more than 10 million transactions and stop an average of 200,000 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 www.iovation.com.

1 Taking Control of Online Fraud, Heartland Payment Systems White Paper, 2013.

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