iovation Reveals Step-by-Step Process to Prevent Mobile Fraud for Financial Institutions

PORTLAND, OR--(Marketwire - Nov 8, 2012) - iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced it will host a workshop presenting a step-by-step process for financial institutions to prevent mobile fraud. Chris Thomas, iovation's Director of Business Development in Northern Europe, will host the workshop entitled, "Combating Fraud and Mitigating Mobile Risk" at the Mobile Money Global Summit & Expo in Dubai, UAE on November 19 at 2:30pm Gulf Standard Time (GST).

"According to Jupiter Research the global mobile payments market could reach $670 billion by 2015, meaning a large opportunity for financial institutions as well as a growing target for criminals," said Thomas. "iovation's technology works through the sharing of real-time intelligence between companies and across industries; we're looking to do the same at this workshop."

ReputationManager 360 from iovation analyzes the behavior of more than a billion devices such as mobile phones, tablets and computers in its cybercrime intelligence network. The service uses advanced device identification (including mobile device identification) to identify and re-recognize devices connecting to its clients' sites. It helps businesses associate groups of devices that would otherwise appear unrelated, and assesses real-time risk through custom business rules that include velocity, anomaly, proxy use triggers, and more. By utilizing iovation's device reputation intelligence gathered across the thousands of risk professionals that use the service, companies can increase fraud catch, improve operational efficiencies and take more good business.

The Mobile Money Global Summit & Expo consists of a truly international audience, with 20 percent from Africa, 10 percent from the Americas, 20 percent from Asia, 25 percent from Europe and 25 percent from the Middle East. It will be hosted in Dubai at Atlantis The Palm.

About iovation
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 one 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 prevention, device identification and more. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.