Track unique device identities for fraud prevention

Track unique device identities for fraud prevention it comes to verifying digital identity, there are three main categories: what you know, what you have and what you can see. Data breaches and phishing scams have rendered the first two almost useless, while the third remains a major hurdle.

For example, fraudsters often use tools like VPNs or proxy servers to conceal their IP address. This makes it impossible to blacklist an entire geographic region, so it’s critical for risk managers to have access to a fingerprint that can detect such devices.

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Fortunately, advanced device fingerprinting is now available. This technology cross-references billions of device profiles globally and can detect device spoofing and suspicious connections. It also recognises repeat offenders, which reduces the need for manual reviews and optimises resource allocation, saving time and money.

In addition to combating friendly fraud, this technology mitigates chargeback fraud by identifying patterns of behavior associated with disputed transactions and flagging them for further scrutiny. It also helps to prevent account takeover (ATO) fraud by identifying the devices used to login to a bank or ecommerce website. A detailed device profile includes information about the browser type and version, screen resolution and colour depth, installed fonts, and plugins. By correlating this information against authoritative offline and online user data, fraud teams can identify hidden connections between devices and accounts to uncover fraudulent networks and stop unauthorized activity before it can start. This proactive approach can save millions of dollars in ATO investigations and charges.