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Posted February 24, 2010
Device Identification Pioneer is Strategically Situated to Help Companies Fight Cyber Criminals, Control Web Fraud and Enable E-Commerce
LOS ALTOS, CA – February 24, 2010 – ThreatMetrix™,the fastest growing provider of device identification for preventing online fraud, today announced that Reed Taussig, president and CEO, ThreatMetrix, will present at America’s Growth Capital (AGC) 6th Annual West Coast Emerging Growth Conference, March 1 – 2, at the Westin San Francisco Market Street.
The two-day event provides an opportunity for over 600 attendees, drawn from private equity, venture capital, debt, and institutional investors, as well as corporate development executives, to exchange ideas and connect with over 275 emerging growth companies.
Taussig will make a private company presentation at 12:30 p.m., Monday, March 1, in the Concordia Room, Westin San Francisco Market Street. The March 1 agenda will focus on the information security sector and serves as a kick-off for the weeklong RSA Conference 2010, March 1 – 5, Moscone Center, San Francisco. The March 2 agenda will focus on the other sectors and companies in emerging growth, including clean tech, digital media/Internet, software, services, semiconductors, communications, data center, robotics and financial technology.
“We are exceptionally pleased to be invited to present at AGC’s prestigious annual conference,” said Reed Taussig, president and CEO, ThreatMetrix. “ThreatMetrix is uniquely situated to help companies control web fraud and enable e-commerce in that it provides one integrated solution, that operates in real-time, to address all three of the major application areas common to the growing global menace of Internet fraud – new account origination, account takeover and card not present (CNP) transactions – as well as work with third party companies that want to incorporate proprietary ThreatMetrix technology into their own fraud protection solutions.”
ThreatMetrix recently announced a breakout year in 2009, with over 100 new customers and extraordinary gains in markets served, sales pipeline, financing, partner ecosystem, and industry recognition. According to CyberSource, a leading provider of electronic payment and risk management solutions, merchants in the U.S. and Canada are estimated to have lost $3.3 billion in 2009 due to online fraud. Device identification (otherwise known as device fingerprinting) is ideal for the world’s largest etailers, and many are evaluating these solutions already.
In the 2010 CyberSource 11th Annual Online Fraud Report, almost half (45%) of the largest merchants surveyed said they are planning to add a device fingerprinting solution in the next 12 months. Per the report, device fingerprinting “can aid in flagging fraud attacks where a variety of fraudulent orders are launched from a common device or set of devices.” These attacks frequently are perpetrated by international fraud syndicates using stolen customer information and credit card data.
Individuals interested in attending should contact AGC at Registrar@americasgc.com.
ThreatMetrix (www.threatmetrix.com) helps companies control online fraud and abuse in real time so they can significantly reduce on-line fraud, acquire more customers faster, reduce costs, and increase customer satisfaction. ThreatMetrix profiles the device used in an online transaction so companies can determine whether the users are fraudsters or customers. ThreatMetrix’ simple and cost-effective SaaS approach to implementation enables companies to get results in hours or days, rather than weeks or months. ThreatMetrix serves a rapidly growing customer base in the U.S. and around the world across a variety of industries including online retail, financial, social networks, and alternative payments.