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iovation to Speak About Fraud Risks for Registrars and Domain Hosts at HostingConExperts Claim More Than Half of All Transactions Attempted With Registrars and Hosts Are Fraudulent (July 17, 2012)
PORTLAND, OR and BOSTON, MA -- (Marketwire) -- 07/17/12 -- iovation, the Device Reputation Authority protecting online businesses from fraud and abuse, today announced that it has been asked to participate on the panel, "Reduce Fraud and Liability: Tactics, Tech, and the Save Hosting Coalition" at HostingCon -- the premier conference and trade show for the hosted services industry. Max Anhoury, iovation's Vice President of Global Sales, will present alongside other industry experts at Boston's John B. Hynes Veterans Memorial Convention Center on July 18, from 3pm to 3:45 pm Eastern. Anhoury will explore the dangers of and ways to mitigate credit card fraud, abuse of domain and hosting services following purchases, and maintaining regulatory compliance.
"When a cyber criminal registers a fraudulent domain to use for phishing purposes, for example, it sets a domino effect in motion of endless loss for registrars, domain hosts and can eventually hit retailers and other online businesses," said Anhoury. "By stopping bad actors at account registration/setup using device reputation technology, registrars and hosts can shut them out prior to purchase and eliminate significant and ongoing damage."
Industry experts claim more than half of all transactions attempted with registrars and hosts are fraudulent. Some of the damage these organizations experience when domain fraud occurs include:
- Monetary loss due to chargebacks and bank fees
- Continued abuse of services after purchase
- Damaged brand reputation
- Violation of TOS (terms of service) by hosting a fraudulent domain
- Potential penalties from newly-introduced legislation like the Data Accountability and Trust Act
ReputationManager 360 by iovation assesses the risk of transactions initiated by 975 million device IDs in iovation's shared network that identifies computers, tablets, phones -- and their associations -- across a broad range of industries. The device reputation solution combats cyber fraud through actionable intelligence, sharing the latest cyber fraud methods, and high-risk devices across hundreds of customers and thousands of cyber security experts. By utilizing this collective evidence and experience from other online companies to help assess risk on transactions, domain hosts, registrars, and secondary domain marketplaces can dramatically expand their fraud knowledge and surveillance beyond their corporate walls. This unique iovation capability makes it possible to proactively identify devices that are associated with abuse before bad actors can strike.
iovation protects online businesses and their end users against fraud and abuse through an industry-leading combination of 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 975 million devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.
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