iovation and NetSpend to Detail the Top Types of Fraud Impacting the Prepaid
To Present Findings at Upcoming Merchant Risk Council Annual
E-Commerce Payments & Risk Conference
PORTLAND, OR -- (Marketwire) -- 03/20/13 -- iovation, protecting
business across the globe from Internet fraud and identifying good
online customers with its device reputation technology, today
announced it will detail the top types of online fraud affecting the
prepaid card industry. These include card compromise, identity theft
and social engineering. Max Anhoury, iovation's Vice President of
Global Sales, will discuss these findings alongside Neil Gilbert,
Fraud Manager at NetSpend, (NASDAQ: NTSP), a provider of
general-purpose reloadable (GPR) prepaid debit cards and related
alternative financial services to underbanked consumers in the United
States, at the upcoming 2013 Merchant Risk Council (MRC) Annual
e-Commerce Payments & Risk Conference in Las Vegas, Nevada. The
session entitled, "Identifying and Preventing Fraud in the Prepaid
Industry," is being held on March 27 at 1:30pm PDT.
"Consumers spend millions of dollars on prepaid cards at retailers,
making it a highly visible target for cybercriminals," said Anhoury.
"With this session we want to share how scammers exploit prepaid card
issuers and their customers in order to ensure fewer fraudulent
transactions slip through the cracks."
A prepaid card is used to access money paid in advance and refers to
a number of different types of cards. Fraud most often occurs during
prepaid card application, online account activation, and online
account access and management. In the session Anhoury and Gilbert
will share the top types of fraud impacting prepaid online
transactions, the top methods prepaid card companies use to stop
online fraud and how analyzing historical device behavior is key to
mitigating such fraud.
ReputationManager 360 by iovation is leveraged by many of the world's
largest prepaid and credit card issuers to stop fraudsters. The
solution tracks the online behaviors of 1.2 billion devices;
everything from desktops to laptops, mobile phones to tablets, and
gaming consoles to smart TVs. By utilizing iovation's device
reputation intelligence gathered across its network of thousands of
urity professionals and their online businesses, prepaid card
companies can determine whether or not a device is likely to conduct
a fraudulent transaction.
iovation has been a sponsor member of the MRC for the past eight
years and will be exhibiting in booth 1226 at the 2013 MRC Annual
e-Commerce Payments & Risk Conference.
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.
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