PORTLAND, OR--(Marketwire - Feb 28, 2013) - iovation, the leading provider of device reputation protecting businesses against online fraud, today announced it will reveal the top 10 methods the world's leading prepaid card issuers use to stop fraud. Jay Johns of iovation will unveil these tactics during the regulation and compliance track at the upcoming Prepaid Expo in Orlando, Florida on March 5 at 11:30am EST, alongside John Morton, Chief Risk Officer at Green Dot and Jacqueline Shinfield, Partner at Blake, Cassels & Graydon LLP.
"According to the Consumer Federation of America, a growing number of complaints involve the use of prepaid cards by fraudsters to collect money," said Jay Johns. "iovation customers are stemming the tide of fraud by employing specific, simple steps and we want to empower others to do the same."
A prepaid card is a card used to access money paid in advance and can refer to a number of different types of cards. For example, gift cards are prepaid cards that typically are used up after depleting the value on the card. A prepaid debit card can be reused many times by simply adding money when it is depleted.
ReputationManager 360 from iovation is leveraged by many of the world's largest prepaid card issuers, top-up companies and credit card issuers to stop fraudsters from committing online fraud with their cards. The iovation solution does so by tracking the online behaviors of 1.2 billion devices; everything from desktops to laptops, mobile phones to tables, and gaming consoles to smart TVs. By utilizing iovation's device reputation intelligence of these more than a billion devices gathered across its network of thousands of security professionals and their online businesses, prepaid card companies can determine whether or not a device would be likely to conduct a fraudulent transaction. This unique iovation capability makes it possible to proactively identify devices that are associated with abuse and stop bad actors before they can strike.
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of advanced device identification, shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation's database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation's knowledge base of more than 1.2 billion devices from every country in the world. Clients also leverage iovation's Fraud Force Community, an exclusive virtual crime-fighting network of the world's foremost security experts sharing intelligence about cybercrime and prevention techniques. Every day, iovation stops more than 150,000 fraud attempts. For more information, visit www.iovation.com.