Fraud Detection: IdentityMind™ Launches Antifraud Platform

• The online security specialist IdentityMind™ announced the availability of their Antifraud Platform for the general market: this product allows for proactive fraud detection assisting merchants in assessing transactions’ legitimacy in real-time. This solution required three years of development and is also intended for acquirers and PSPs: helping them tracking fraudulent accounts creation, abusive use of connection IDs, and protecting them from potentially malicious merchants.

• Antifraud Platform relies on the concept of “electronic DNA” (“eDNA™”): for each Internet user, a profile has been set up based on various criteria studied over time as they made payments transactions. For the sake of scalability, the platform combines eDNA™ with online behavioural data. Described as non-disruptive and non-intrusive, this tool would not even be noticed by the user.

Source: IdentityMind’s press release

• This platform collecting and tracking the behaviour of over 40 million digital IDs has now been made available to the market. These kinds of fraud detection tools, the relevance of which is not to be questioned in these times of crisis however contrast with the evolving opinion of the general public regarding the use of their online traces.

• The W3C is in fact being talked into thinking through the issue of user tracking, and some believe it should notify that online players should not be allowed to gather user information through enabling a "do-not-track” header in the browser. This would prevent targeted advertising as well as the storage, use, sharing and, obviously, sale of personal data."

• Also, Microsoft recently explained that Internet Explorer 10 would include a do-not-track setting turned "on" by default, thus walking in the footsteps of Mozilla (Firefox) and Apple (Safari), which after Google (Chrome) have also opted for this solution.