Using Device Intelligence to Enhance Fraud DetectionUsing Device Intelligence to Enhance Fraud Detection
The fraud landscape is constantly evolving. Fraudsters are highly organized and motivated to exploit vulnerabilities for unauthorized access and profit. This is why it’s critical to arm yourself with actionable insights that help you make the right decisions about which identities to trust in your business.
Device intelligence to enhance fraud detection is the latest weapon in the arsenal of fraud fighters to thwart these emerging cyber threats. It combines digital device forensics with risk signals such as rooted devices, emulators, spoofing techniques, residential proxies, and code injections to provide businesses with crucial information that goes beyond standard security questions and multi-factor authentication checks.
Unlike legacy solutions that only focus on PII data, device intelligence uses unique device identifiers to analyze hardware and software parameters to identify suspicious patterns. This is accomplished through a combination of several technologies, including device fingerprinting, advanced machine learning algorithms, big data analytics and deep learning.
Prevent Fraud with Advanced Device Tracking Solutions: Strengthen Verification
When used with identity verification services, device intelligence can detect a range of cyber threats including credential stuffing, account takeover (ATO), and synthetic identity fraud. This is because it spots the anomalous activity that these types of fraud schemes produce, such as multiple payment failures, spoofing attempts and fishy login behaviors.
To maximize your protection against these sophisticated fraud attacks, look for a solution that continuously monitors users’ devices and behavior without impacting their user experience. You should also consider how easy it is to integrate your device and behavior solution with your existing systems. For example, look for a device intelligence platform that offers seamless integration with popular fraud management platforms, payment gateways, and identity verification services.…