Equifax adopts iovations device intelligence to fight online fraud

The service allows businesses to protect themselves against the risk of fraudulent activity when dealing with customers online.

Using technology from anti-fraud company, iovation, Equifax Device Verifier assesses the risk of fraud associated with any device being used to make online purchases, including smartphones, desktops, laptops and tablets. The service checks to see if there is any history of fraudulent activity linked to the device using iovation’s global fraud network, which looks at the reputations of more than 2.5 billion devices, 23 million fraud reports, and real-time risk indicators such as device anomalies, excessive repeated use of the same device, and evasion techniques attempting to conceal the nature of the device or its location.

The behind-the-scenes service flags any previous suspicious behaviour linked to a particular device or associated devices, allowing businesses to put additional checks in place to stop potentially fraudulent transactions. The device recognition solution works by identifying information such as the true physical location and IP address of a device. If fraudulent activity is detected, the online transaction can be stopped, avoiding financial repercussions for the business.

Equifax Device Verifier is an integral part of Equifax Progressive Authentication, a suite of ID and fraud products designed to improve the customer’s journey while reducing the risk of fraud and meeting regulatory requirements.