"Customers change their browser or IP address regularly and fraudsters routinely change their settings.
Additionally, botnet scripts randomize device attributes. The result is missed fraud and worse, false positives and declined revenue.
Threat Metrix Smart ID overcomes these problems with real-time intelligent matching and confidence scoring."Threat Metrix Smart ID complements Threat Metrix Exact ID device identification that positively authenticates customers across PCs and smartphones with the ability to globally track fraudulent devices without false positives.
"For example, a witness can still recognize a bank robber based on a distinguishing scar even if they have changed clothes, dyed their hair, or shaved their hair.
That's why Threat Metrix Smart ID is highly resilient whereas traditional device fingerprinting requiring 'all or nothing matches' are thrown off when a single feature changes.
Threat Metrix Smart ID provides more effective identification of returning visitors that are trying to hide their identity.
Threat Metrix Smart ID can be used by the Threat Metrix rules engine to identify and correlate suspicious transactions, or it can be fed into third-party identity verification, authorization and authentication solutions."The Fall 2010 release of the Threat Metrix Fraud Network includes several features tailored for financial institutions and high transaction, low latency environments: Cross Platform Device Identification and Verification To read a Threat Metrix blog on why cookies are dead in the fight against fraud visit: read more on the Fall 2010 release of the Threat Metrix Fraud Network incorporating Threat Metrix Smart ID visit: Metrix helps companies stop web fraud and enable e-commerce in real-time so they can significantly reduce online fraud, acquire more customers faster, reduce costs, and increase customer satisfaction.
With the introduction of the Fall 2010 release of the Threat Metrix Fraud Network, Threat Metrix has enhanced business' ability to detect returning visitors based on the attributes of the device -- be it a smartphone, personal or tablet computer -- without using any cookie information and has improved rules to use this information to detect spoofed devices and IP addresses as well as sniff out botnets."Fraudsters know how to change their user ID, change their IP address, and delete cookies," said Stacy Martin, director of customer service and fraud prevention, Tapjoy, a Threat Metrix customer and the leader in monetization and distribution services for social and mobile gaming applications, MMOs, virtual worlds, social platforms and other publishers selling virtual goods or premium digital assets.
"With the Threat Metrix Fraud Network, we've been able to stop fraud instances that we may have missed previously.
With Threat Metrix Smart ID, we expect to catch even more, in particular in our growing mobile gaming market where cookies are extremely ineffective."According to Reed Taussig, president and CEO, Threat Metrix, cookies are yesterday's solution.
Organizations have been losing their taste for cookies in tracking returning customers for a number of reasons including:"The days of tagging customer PCs in order to identify 'good' customers logging into user accounts are numbered, as regulatory privacy concerns and privacy settings in Adobe Flash Player 10.1 give end users explicit control over information downloaded to their PCs using Flash Player," said Avivah Litan, vice president and distinguished analyst, Gartner Research.
"Service providers who depend on Flash to identify client devices (such as PCs) in order to prevent fraud should evaluate and implement alternative technologies." ("Privacy Collides with Fraud Detection and Crumbles Flash Cookies," Avivah Litan, Gartner Research, February 8, 2010.)"Threat Metrix is redefining the device identification landscape with the Fall 2010 release of the Threat Metrix Fraud Network," said Reed Taussig, president and CEO, Threat Metrix.
"Relying exclusively on cookies as a means of identifying which devices are involved in an online transaction is no longer adequate to protect customers from recurring fraud or to reliably identify valued returning customers."The Fall 2010 release of the Threat Metrix Fraud Network combines its best of breed Threat Metrix Exact ID™ device identification with Threat Metrix Smart ID technology to detect spoofed devices and IP addresses as well as sniff out botnets.