How can Device Fingerprinting and Proxy Piercing help fight fraud?
How can Device Fingerprinting and Proxy Piercing help fight fraud
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Fighting eCommerce Fraud takes constant attention and focus.Device ID or Device Fingerprinting and Proxy Piercing technologies help fight online fraud by enabling an internet merchant to see a broader picture of who is behind that online transaction.
What is a Device Fingerprint?
According to Wikipedia "A device fingerprint (or machine fingerprint) is a compact summary of software and hardware settings collected from a remote computing device."
Or you can look at a more technical definition according toUS Patent 7,330,871 Rather than getting technical, let's focus on how the technology enables the fight against advanced fraud schemes when properly applied to your fraud prevention process.
In laymen's terms, device fingerprinting is the ability to look at a combination of device identifiable attributes and collectively associate them with an identification tag of the machine used to access your site to facilitate a transaction.
A machine can represent any type of connected device including PC, notebook, mobile phone, smart phone, gaming console, etc.
What is Proxy Piercing?
Proxy Piercing is the ability to look beyond the device and determine the combination of network identifiable attributes and collectively associate them with where and how the person is accessing your site to facilitate a transaction.
What makes up an onlinetransaction?
When an online merchant is "processing" orders during checkout, there are a few high-level components to consider making up that transaction.
Customer Data = (name, billing/shipping address, telephone, email, payment account, etc)
Device Data = details around the type of machine being used to make the purchase (computer, phone, gaming console, etc)
Network Data = how and where is the machine and person accessing the checkout page to make the purchase (satellite, remote software, IP, proxy, geo-location, etc)
The collective attributes of these 3 data sets equate to an online transactionPersona. The persona can be used to gain insight into each transaction to determine if it's a good customer, bad customer or fraudsters attempting to steal from you. Your objective is to do this as quickly as possible with the highest degree of efficiency and the least amount of operational cost and/or losses.
When evaluating how a device fingerprint can be used in your fraud prevention program you need to consider data retrieved by device fingerprinting alone is less about "what is the ID" then "how is the ID used." The power is not in just stopping a future loss by associating a chargeback incurred with the device ID it's in stopping losses with real time information before the chargeback occurs or goods ship and preventing any future losses from related transactions.
The key isREAL-TIME INFORMATION. Data is interesting, but data with intelligence applied is "information" and much more useful when applied in real time. The best approach is to look beyond the device ID alone and apply comprehensive rules incorporating customer attributes, device attributes and network attributes in real time.
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