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IOVATION Fraud on the move


According to iovation, around half of all ‘risky’ online transactions appear to be coming from a mobile device. Senior Director of Customer Success, Melissa Gaddis, explains.


M


obile devices have rapidly evolved over the past several years. From this small, handheld device, customers can request a


ride, book a babysitter, conduct a video conference, apply for a loan or transfer money. In fact, iovation has seen over half (61%) of our protected transactions come from mobile devices so far this year, up from 56% in 2018 and 51% in 2017. iovation recently released research showing that, in the first half of 2019, 49% of all risky transactions came from mobile devices – up from 30% in 2018, 33% in 2017 and 25% in 2016.


ABOUT IOVATION iovation, a TransUnion


company, was founded with a simple guiding mission: to make the Internet a safer place for people to conduct business. Since 2004, the company has been delivering against that goal, helping brands protect and engage their customers, and keeping them secure in the complex digital world. Armed with the world’s largest and most precise database of reputation insights and


cryptographically secure multifactor authentication methods, iovation safeguards tens of millions of digital transactions each day.


“Fraudsters are like chameleons; they are always adapting their tactics to make it look like they’re legitimate customers,” says iovation’s Senior Director of Customer Success, Melissa Gaddis. “With well over half of all transactions now coming from mobile devices, our analysts increasingly see fraudsters either using mobile devices or making it look like their transactions are coming from mobile when in fact they are using a traditional desktop.”


AMONG IOVATION’S RESEARCH The top continents for mobile fraud:


So far in 2019 it’s North America with 59% of all risky transactions coming from mobile devices. In 2018, it was Asia at 53%. In 2017, it was North America with 55%. In 2016, it was North America again with 36%.


The top countries for mobile fraud: Gabon leads so far in 2019 with 85% of all risky transactions coming from mobile devices. In 2018, it was Japan with 79%. Papua New Guinea led in 2017 with 86%. In 2016, it was Bangladesh with 59%. The top industries for mobile fraud:


So far in 2019 it is telecommunications with 75% of all risky transactions coming from mobile devices. In 2018, it was gambling with 60%. Communities (for example social networks or online dating sites) led in 2017 at 59%. In 2016, it was healthcare with 58%.


To find fraudulent transactions from mobile devices, iovation suggests businesses closely analyse specific indicators including:


Mobile emulators: Fraudsters like to hide information by using emulators to make it look like their desktop device is a mobile device. Orientation: Is a device staying in the same position or is it face down? These could be tell-tale signs of a bot or a fraudster emulating a mobile device. SIM card country: Since fraudsters often try to mask their location, the SIM card country provides yet another method for identifying the true location of the end-user. Fraud analysts may find fraudsters that target their businesses tend to have devices from particular countries. SIM card carrier name: Certain mobile carriers can


78 NOVEMBER 2019 GIO


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