Posted on May 12th, 2010 by Tom Grubb
Fresh on the heels of ThreatMetrix CTO David Jones’ blog entry from Payments China 2010 this week comes the results of our booth survey from the conference. About one hundred attendees completed our three-question survey to help us gauge the current state of payments web fraud in China. Here’s what they had to say:
Respondents were about evenly split on whether stopping first time fraud is more important than streamlining customer transactions with a little more than half citing the later. The ratios were the same but opposite sides compared with our MRC 2010 attendee response to this question.
CNP transactions won out over new account registrations and logins for type of web transaction that require fraud protection.
Most respondents said they look to their in-house risk management and anti-fraud department to combat online fraud, and about half look to 3rd party tools as part of their strategy.
- Tom
Tags: Payment China 2010, survey
Posted in Credit Card Transactions, Online Fraud | No Comments »
Posted on June 18th, 2009 by Tom Grubb
I’m just back from a few days in Boston at the Internet Retailers 2009 conference where we encountered a tremendous wave of interest in ThreatMetrix. Unlike the Merchant Risk Council annual conference where fraud prevention figures prominently this conference covered a broader set of topics. Many of the attendees had never heard of device finger printing before, so we had hundreds of conversations at our booth introducing many to the idea of profiling the computer instead of the person to control online fraud. We found etailers new to device fingerprinting were quick to grasp its benefits and take an active interest in learning more.
I did some quick calculations on the results from our informal booth survey (I’ll publish the full results next week) that shed some light on awareness of device fingerprinting at the conference. Out of 365 respondents it split almost right down the middle on those who had heard of device fingerprinting and those who had not. I don’t have any data from last year’s conference but I’ll bet last year was well below 50% on the awareness scale.
We’ll be back exhibiting next year when the IRCE moves to Chicago. It will be interesting to survey next year’s crowd to compare year over year answers. Check back here next week for all of the survey results.
Tags: Device Detection, device fingerprinting, Device Identification, IRCE 2009, Online Fraud, PC Fingerprint, survey
Posted in Account Compromise, Credit Card Transactions, Device Detection, Device ID, Device Identification, Events, Online Credit Card Transactions, Online Fraud, PC Fingerprint | No Comments »
Posted on June 9th, 2009 by Tom Grubb
Would you feel safe purchasing goods with your credit card from your cell phone? If you answered “yes” then you’re in agreement with about half the respondents in a recent Harris Interactive survey reported by Internet Retailer who consider it “at least somewhat safe” to make a purchase through their cell phone.
Of course that presumes you are willing to overlook the inconvenience factor that goes with entering your credit card number and personal information on your cell phone—which depending on your cell phone can be a minor inconvenience or royal pain. According to the survey, “46% of cell phone owners said that, assuming they could purchase securely through cell phones, they’d be willing to make purchases this way.”
As smartphones like Apple’s iPhone get easier and consumer adoption increases it’s a fair bet that so will online purchases made from smartphones…and online banking…and social networking…and just about any web activity you would typically undertake on your computer today. Etailers and businesses that rely on customers to connect via their computer will undoubtedly invest more in technology to instill trust and confidence in smartphone users so they feel very safe interacting with them via their smartphones. While 46% may seem like a healthy number, I’m sure the survey results made more than a few etailers cringe.
As smartphones take on more everyday computing tasks they are also likely to become a desirable platform for fraudsters. Georgia Tech in its Emerging Cyber Threats Report for 2009 predicts as much. According to Patrick Traynor, an assistant professor at the university, “malware will be injected onto cell phones to turn them into bots.” He goes on to say “at this point, mobile device capability is far ahead of security….we’ll start to see the botnet problem infiltrate the mobile world in 2009.”
For now it pays to be extra careful when banking or buying from your smartphone. I’ll have more to say about mobile computing and fraud prevention in the coming weeks.
- Tom
Tags: Botnets, credit cards, fraud, smartphones, survey
Posted in Botnets, Credit Card Transactions, Device Identification, Online Fraud, Online Fraud Trends, Uncategorized | No Comments »
Posted on May 15th, 2009 by Tom Grubb
While preparing for the upcoming 2009 Internet Retailer Conference next month in Boston I remembered that I have some interesting survey results from the Merchant Risk Council conference that I forgot to post.
At the March conference in Las Vegas we informally surveyed over one hundred MRC attendees to get their thoughts on device fingerprinting.
Find out what online merchant fraud experts had to say by clicking here.
- Tom
Tags: device fingerprinting, internet retailer conference, IRCE, Merchant Risk Council, MRC, survey
Posted in Credit Card Transactions, Online Credit Card Transactions, Online Fraud | No Comments »
