Catches New and Unusual Fraudulent Device Setups and Reduces False Positives on Legitimate Users and Transactions
AUSTIN, Texas–(BUSINESS WIRE)–#FraudPrevention—SEON, the fraud fighters, today unveiled modern digital device fingerprinting capabilities designed to identify and counter the latest internet and mobile fraud tactics used by sophisticated fraudsters and bots.
Fraudsters increasingly use unusual device setups to speed their efforts. Device fingerprinting can combat this by analyzing users’ software and hardware configurations to determine if they are legitimate. Based on ongoing research from SEON’s data science team, this update adds new and revised checks and risk scoring to profiles and accurately stops the latest fraudster device setups. This makes it more challenging for fraudsters to trick systems and reduces false positives on real users and legitimate transactions.
SEON’s fraud detection solution also protects against tactics specifically used with mobile devices, including burner phones, virtual numbers, and disposable phone numbers. This includes protection against new, sophisticated threats like the ERMAC trojan, which spreads over phones using the Android operating system and can potentially compromise bank accounts.
“New malware-as-a-service threats like ERMAC are being developed every day, but even the most well-made malware leaves fingerprints that SEON’s advanced AI can detect,” said Jimmy Fong, Chief Commercial Officer at SEON. “We’ve dramatically simplified the effort it takes for merchants to fight the ever-changing tactics of fraudsters and bots.”
SEON uses advanced AI and more than 500 parameters to identify fraud and protect more than 5,000 online merchants every day. Its solutions dramatically simplify the deployment and use of fraud detection technologies with trials and pay-as-you-go pricing that scales with businesses as they grow revenues and customers. Only SEON openly shares new findings on fraud behavior patterns with transparent risk scoring decisions to help customers learn and adapt to rapidly changing fraud behaviors.
SEON helps any online business fight back against fraud. Built to be adaptable and accessible, it removes barriers to fraud prevention. With 30 days free trial, rapid integration, pay-as-you-go flexibility, SEON is a simplified, modern way to fight fraud with technology that combines social signals with digital footprint data to wean out false accounts and prevent fraudulent transactions. AI and machine learning adapt to how different businesses evaluate risk. SEON stops fraud before it happens with unbeatable speed, scale, depth, and breadth, all while running in the background with a frictionless business and consumer experience. To learn more about the company, visit: https://seon.io/
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our digital newsletters!