|By Marketwired .||
|July 4, 2014 06:01 PM EDT||
PALO ALTO, CA and LONDON, UNITED KINGDOM -- (Marketwired) -- 07/04/14 -- Jumio, Inc., the fast growing mobile credentials management company, today released a white paper Don't Fall Foul of Fraud at the World Cup educating and advising businesses on fraud. Fraud at major sporting events is always a large problem and the FIFA World Cup in Brazil is no exception.
In 2010 when South Africa hosted the World Cup, fraud levels in the country rose by 53%(1) during the tournament. What's more, the three provinces that hosted the games accounted for 92.5%(2) of total credit card fraud losses in South Africa for the entire year. Jumio's new whitepaper -- Don't Fall Foul of Fraud at the World Cup -- illuminates the massive scale of fraud potential in Brazil while informing businesses how to both mitigate and combat the threat.
Although the World Cup lasts just four weeks, fraudsters, much like football teams, begin their preparation and build-up to the event years in advance -- indeed over 33%(3) of the Brazilian population has experienced card fraud over the past 5 years amounting to losses of over $150 million(4). The consequences for business can be severe and if managed incorrectly an apparent boom in business can actually result in companies going bust.
Here is a breakdown of the countries represented at the World Cup whose citizens are most susceptible to fraud during the World Cup 2014(5).
Fans are targeted by fraudsters in a variety of ways, including:
- Luring fans into paying for non-existent or unavailable accommodation for the World Cup through fake adverts and websites.
- Emailing people with bogus offers to submit tenders for fake World Cup contracts or claim fake World Cup related competition prizes.
- Fake FIFA websites and selling counterfeit tickets. [Note: These sites typically have numerous sub-domains to target different countries and are difficult to trace.]
Marc Barach, Chief Marketing Officer at Jumio comments, "In my experience of fraud, the gathering of large groups of people into one place makes for a target-rich environment for a fraudster, especially during high profile events like the World Cup. Businesses shouldn't sit back and take it, but instead take measures to protect themselves and their customers."
The Whitepaper from Jumio offers advice on How to show fraudsters the red card. Here are the 7 key insights businesses should heed when tackling fraud:
1. Know your starting line-up - Ensure you can tell fraudsters from legitimate customers.
2. Look at your previous performances - Learn from previous fraud attacks, including during past major sporting events.
3. Expect a high turnout - Fraudsters will take advantage of increased traffic during the world cup. There will be more of them as well as more customers.
4. Adopt a flexible formation - Be prepared to adapt your fraud strategy to cope with the World Cup period.
5. Look after your supporters - Fast track repeat customers to free up resources and catch fraudsters.
6. Study your opponents - Take note of trends in fraud attacks and act on them.
7. Avoid misconduct fines - Chargebacks cost business in both profit and reputation, avoid them!
Barach concludes, "An event as fantastic as the World Cup should be a positive experience, highlighting a brilliant sport and offering a superb opportunity for businesses to prosper. Unfortunately to succeed businesses must protect themselves against fraud. This is why we at Jumio believe in not only providing cutting edge technological solutions for payment authentication and ID verification but also offering expert advice and insight."
Jumio is a next-generation payments and ID software-as-a-service company that utilizes proprietary computer vision technology to reduce mobile/online payment and ID friction and fraud, while increasing revenue and customer satisfaction.
The company's mission is to provide its clients with intuitive, consumer-facing technologies that make it possible to conduct a wide range of mobile transactions without a single keystroke.
Half of the top 10 consumer internet companies, along with hundreds of other retailers, financial institutions, marketplaces, gaming companies and more have adopted Jumio products to enable their customers to efficiently speed through sign-up and checkout processes yielding not only higher completion rates but an improved customer experience.
Jumio has received numerous innovation awards from leading industry associations and is listed on The Sharepost 100 as one of the world's most innovative and compelling private companies.
Jumio was founded in 2010 by CEO Daniel Mattes and is backed by top tier investors including Andreessen Horowitz, Citi Ventures and Facebook Co-Founder, Eduardo Saverin. Headquartered in Palo Alto, Jumio operates globally with offices in the US and Europe and processes credentials issued by over 100 countries. For more information, visit http://www.jumio.com/
Palerra, the cloud security automation company, announced enhanced support for Amazon AWS, allowing IT security and DevOps teams to automate activity and configuration monitoring, anomaly detection, and orchestrated remediation, thereby meeting compliance mandates within complex infrastructure deployments. "Monitoring and threat detection for AWS is a non-trivial task. While Amazon's flexible environment facilitates successful DevOps implementations, it adds another layer, which can become a ...
Jul. 27, 2015 10:15 PM EDT Reads: 262
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Jul. 27, 2015 10:00 PM EDT Reads: 1,311
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 09:45 PM EDT Reads: 964
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, S...
Jul. 27, 2015 09:00 PM EDT Reads: 2,017
With SaaS use rampant across organizations, how can IT departments track company data and maintain security? More and more departments are commissioning their own solutions and bypassing IT. A cloud environment is amorphous and powerful, allowing you to set up solutions for all of your user needs: document sharing and collaboration, mobile access, e-mail, even industry-specific applications. In his session at 16th Cloud Expo, Shawn Mills, President and a founder of Green House Data, discussed h...
Jul. 27, 2015 08:45 PM EDT Reads: 173
Delphix, the market leader in Data as a Service (DaaS), has been announced winner of the DevOps Solution Award at the prestigious Computing Vendor Excellence Awards in London. The awards celebrate the achievements of the technology vendors and service providers that are leading the field of enterprise IT. Delphix was recognised as the vendor demonstrating the most effective support of DevOps culture for its ability to improve time to market and collaboration between teams.
Jul. 27, 2015 08:00 PM EDT Reads: 252
"Our biggest growth area has been the security services, the managed services - the things that differentiate us in the market that there is no client that's too small and there's no client that's too big," explained Paul Mazzucco, Chief Security Officer at TierPoint, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 06:30 PM EDT Reads: 302
The Cloud industry has moved from being more than just being able to provide infrastructure and management services on the Cloud. Enter a new era of Cloud computing where monetization’s services through the Cloud are an essential piece of strategy to feed your organizations bottom-line, your revenue and Profitability. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed how to easily o...
Jul. 27, 2015 06:00 PM EDT Reads: 328
"We've just seen a huge influx of new partners coming into our ecosystem, and partners building unique offerings on top of our API set," explained Seth Bostock, Chief Executive Officer at IndependenceIT, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 06:00 PM EDT Reads: 514
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
Jul. 27, 2015 05:30 PM EDT Reads: 1,328
Sysdig has announced two significant milestones in its mission to bring infrastructure and application monitoring to the world of containers and microservices: a $10.7 million Series A funding led by Accel and Bain Capital Ventures (BCV); and the general availability of Sysdig Cloud, the first monitoring, alerting, and troubleshooting platform specializing in container visibility, which is already used by more than 30 enterprise customers. The funding will be used to drive adoption of Sysdig Clo...
Jul. 27, 2015 05:00 PM EDT Reads: 399
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
Jul. 27, 2015 03:00 PM EDT Reads: 426
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
Jul. 27, 2015 03:00 PM EDT Reads: 1,220
"We do data integration for B2B also application to application, and we do data management and enable Big Data," explained Pat Adamiak, Vice President, Product Marketing at Liaison Technologies, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 03:00 PM EDT Reads: 296
"We specialize in testing. DevOps is all about continuous delivery and accelerating the delivery pipeline and there is no continuous delivery without testing," noted Marc Hornbeek, Sr. Solutions Architect at Spirent Communications, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jul. 27, 2015 02:45 PM EDT Reads: 315