Welcome!

News Feed Item

iovation Helps Bust Identity Theft and Retail Fraud Ring

20 Major Retailers Targeted, Tens of Thousands of Dollars in Fraudulent Charges Racked Up

PORTLAND, OR and KIRKLAND, WA -- (Marketwire) -- 03/21/12 -- iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that it has assisted in busting a fraud ring that victimized at least 15 people and resulted in tens of thousands of dollars in fraudulent charges. The fraud ring was identified by the Kirkland, Washington police department thanks to the device association capability of iovation's ReputationManager 360 online fraud prevention solution.

"This is a unique case because it wasn't exclusively an online or offline crime," said Detective Adam Haas of the Kirkland Police Department Investigation Division. "Offline clues helped, but the online digital bread crumbs sniffed out by iovation were critical in tying everything together, leading to a much bigger crime ring than we originally suspected."

The case originally began in January 2011 with a report of $5,000 in fraudulent charges via credit card at a large electronics store and two department stores. Detective Haas checked with the credit issuer, who used iovation's ReputationManager 360 to track fraudulent credit applications to one specific computer. But that was just the tip of the iceberg. ReputationManager 360 was then able to associate this same device with a second identity theft fraud victim. In fact, using a combination of multiple device-to-account associations, ReputationManager 360 helped identify more than a dozen additional victims. The Kirkland detective used this information, surveillance videos and other offline detective work to identify the primary suspect as a male working out of various hotel rooms in concert with others. The suspect used stolen residential mail to apply for online credit and to manufacture fraudulent identification cards.

"ReputationManager 360 was developed specifically to bust fraud rings like this," said Jon Karl, Vice President of Corporate Development at iovation. "This private-public partnership is an example of how sharing data through iovation helps limit losses for both businesses and consumers."

ReputationManager 360 makes it possible for online sites to visualize associations between devices and individuals, often exposing fraud rings that would otherwise remain hidden. In this case it did just that, helping retailers, credit issuers and police connect the dots between fraudulent transactions and high-risk devices. ReputationManager 360 tracks 900 million devices, from computers to tablets to mobile phones, across a broad range of industries. It has protected more than 7 billion total online transactions to date.

What started out as a small state case with one victim has now turned into a federal indictment with nine counts, including bank fraud and aggravated identity theft. The suspect is scheduled to be sentenced this April and could face many years in prison.

Identity Theft Expert Robert Siciliano, Jon Karl of iovation and Detective Adam Haas will present how iovation's device intelligence and the Kirkland Police Department helped take down this fraud ring during a session at the Merchant Risk Council's (MRC) 10th Annual e-Commerce Payments & Risk Conference at 9am PDT on March 29 at the Wynn Resort Convention Center in Las Vegas, Nevada.

ReputationManager 360, iovation's cyber fraud solution, is also a finalist for the MRC's Emerging Technology Award (METAward). For more information, visit iovation at booth number 310 at the MRC e-Commerce Payment & Risk Conference.

About iovation
iovation protects online businesses and their end users against fraud and abuse through our industry-leading combination of shared device reputation and real-time risk evaluation. 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 900 million devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact:
iovation Inc.
Connie Gougler
Director of Marketing
503-943-6748

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone in...
To get the most out of their data, successful companies are not focusing on queries and data lakes, they are actively integrating analytics into their operations with a data-first application development approach. Real-time adjustments to improve revenues, reduce costs, or mitigate risk rely on applications that minimize latency on a variety of data sources. In his session at @BigDataExpo, Jack Norris, Senior Vice President, Data and Applications at MapR Technologies, reviewed best practices t...
"Evatronix provides design services to companies that need to integrate the IoT technology in their products but they don't necessarily have the expertise, knowledge and design team to do so," explained Adam Morawiec, VP of Business Development at Evatronix, in this SYS-CON.tv interview at @ThingsExpo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"I focus on what we are calling CAST Highlight, which is our SaaS application portfolio analysis tool. It is an extremely lightweight tool that can integrate with pretty much any build process right now," explained Andrew Siegmund, Application Migration Specialist for CAST, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to clos...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
The past few years have brought a sea change in the way applications are architected, developed, and consumed—increasing both the complexity of testing and the business impact of software failures. How can software testing professionals keep pace with modern application delivery, given the trends that impact both architectures (cloud, microservices, and APIs) and processes (DevOps, agile, and continuous delivery)? This is where continuous testing comes in. D
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
In a recent survey, Sumo Logic surveyed 1,500 customers who employ cloud services such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform (GCP). According to the survey, a quarter of the respondents have already deployed Docker containers and nearly as many (23 percent) are employing the AWS Lambda serverless computing framework. It’s clear: serverless is here to stay. The adoption does come with some needed changes, within both application development and operations. Tha...
Digital transformation is about embracing digital technologies into a company's culture to better connect with its customers, automate processes, create better tools, enter new markets, etc. Such a transformation requires continuous orchestration across teams and an environment based on open collaboration and daily experiments. In his session at 21st Cloud Expo, Alex Casalboni, Technical (Cloud) Evangelist at Cloud Academy, explored and discussed the most urgent unsolved challenges to achieve f...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...