Equifax Device Verifier to Monitor Fraudulent Risk for Smart Devices

By CIOReview | Tuesday, July 28, 2015

FREMONT, CA: Equifax provider of consumer, commercial and workforce information solutions, announces the release of Equifax Device Verifier, which will allow business of all size to monitor and protect themselves against fraudulent risks.

Equifax borrowed the technology from anti-fraud company, iovation where the device monitors fraud cases associated with any devices being used for online shopping, including smartphones, tablets or laptops. Equifax Device Verifier  checks for previous fraudulent cases linked with the device by accessing iovation’s global fraud network. It browses through the network to check the device reputation of more than 2.5 billion devices, 23 million fraud reports and real-time risk indicators such as device anomalies, repetition of same device and evasion techniques attempting to hide the nature of device or its location.

“As more business accepts online transactions, there is higher risk of fraud therefore additional security measures must be followed other than identity verification,” says Peter Harrison, product leader identity and fraud, Equifax. The Verifier allows the business to implement additional security steps by identifying information such as location and the IP address of the device. If there is a risk of fraudulent activity, the online transfer can be stopped.

The device is part of Equifax Progress Authentication, which is designed to check the device reputation in real-time, reduce fraud risk factor and improve customer experience without any interruption. This will provide the businesses to secure their transactions and enhance their security level. “We are pleased to power Equifax Device Verifier with our device intelligence service by leveraging our international fraud analysts on the front line,” says Max Anhoury, VP of Global Partnerships, iovation.