Worker Selects ThreatMetrix Fraud Network to Fight Fraud on Its Online Marketplace
Posted July 27, 2010
ThreatMetrix Helps Protect the Integrity of the vWorker Brand, Its Ratings System and Ensures That Their Transactions Are Secure
LOS ALTOS, CA. – July 27, 2010 – ThreatMetrix™, a fast growing provider of fraud prevention solutions that do not require personally identifiable information (PII), today announced that vWorker, the leading freelance worker marketplace, has selected ThreatMetrix to help control online fraud and abuse.
Founded in 2001, vWorker is an online markevWorker.com is a dynamic online marketplace where 142,675 employers hire and manage 295,798 virtual workers to assist them in business and personal projects. Virtual workers span every country across the globe and every imaginable expertise, including computer programming, writing, graphic design, marketing and many more. vWorker.com offers the safety features and money-back/payment guarantees that allow thousands of these transactions to be done succesfully every month. Over 150,000 employers and 300,000 freelance workers participate in the vWorker online marketplace with vWorker taking a fee for each successfully completed project. Freelance workers span every country across the globe and every imaginable expertise, including computer programming, writing, graphic design, marketing and many more. vWorker offers safety features and money-back guarantees that allow thousands of transactions to complete successfully every month.
“We closely monitor our site – www.vworker.com – and ban members if we observe that they are engaging in inappropriate or fraudulent behavior,” said Ian Ippolito, CEO, vWorker. “For example, we’ve seen instances of previously banned members return and create a new account under a new identity so that all their previous bad ratings would simply go away.”
Still other scams included instances where a member using a stolen credit card might create two accounts – one as an employer and the other as a freelancer – and attempt to secure money off the credit card.
After a review of competitive offerings, vWorker chose the ThreatMetrix Fraud Network. “We liked that the ThreatMetrix Fraud Network easily integrated with our in-house solution, was real-time, helped us automate internal processes, and was able to bypass hidden proxies,” said Ippolito.
One of the key benefits of the ThreatMetrix Fraud Network is its ability to determine the true IP address of fraudsters hiding behind a proxy. When ThreatMetrix discovers that the true IP address is not the same as the reported IP address, this is an indicator that a proxy is being used. The ThreatMetrix Fraud Network can then further determine whether the device has been identified as being used in past fraudulent or legitimate transactions.
“Every time a member makes a credit card payment, we run it through the ThreatMetrix Fraud Network for review,” continued Ippolito. “ThreatMetrix pulls the true IP address and geolocation and other data, then returns a score indicating whether the device being used in the transaction is legitimate or has been used in a previous fraudulent transaction, or is suspicious, in which case an email alert is sent to our analysts to pull the transaction for manual review.”
“With the ThreatMetrix Fraud Network fully integrated into our business operations, we’ve been able to automate previously manual processes and significantly cut down on the instances of fraud,” said Ippolito. “The ThreatMetrix Fraud Network further helps us protect the integrity of our brand, our ratings system, and ensures that our transactions are secure.”
To view a web-based product demo, go to: http://info.threatmetrix.com/ThreatMetrix-Product-Tour
To view a video on the ThreatMetrix Fraud Network, visit: ThreatMetrix, The Digital Identity Company
To read a whitepaper on the ThreatMetrix Fraud Network, visit: http://info.threatmetrix.com/ThreatMetrix-fraud-network.html
vWorker (formerly Rent a Coder) is a dynamic online marketplace where employers hire and manage virtual workers to assist them in business and personal projects. Virtual workers span every country across the globe and every imaginable expertise, including computer programming, writing, graphic design, marketing and many more. vWorker.com offers the safety features and money-back/payment guarantees that allow thousands of these transactions to be done successfully every month. For more information, visit www.vworker.com.
ThreatMetrix helps companies stop web fraud and enable e-commerce. The ThreatMetrix Fraud Network helps online businesses verify new accounts, authorize payments and transactions and authenticate user logins in real-time without relying on personally identifiable information (PII). ThreatMetrix profiles the device used in an online transaction so companies can determine whether the users are fraudsters or customers. ThreatMetrix device profiling goes beyond browser fingerprinting to identify the device, bypass proxies and detect the use of botnets. ThreatMetrix’ simple and cost-effective SaaS approach to implementation enables companies to get results in hours or days, rather than weeks or months. The company serves a rapidly growing customer base in the U.S. and around the world across a variety of industries including social networks (dating, gaming), financial services, e-commerce, affiliate marketing and payments. For more information, visit www.threatmetrix.com or call 1-650-625-1451.
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