European Online Fraud Increases 60%

PRESS RELEASE

PORTLAND, Ore. – April 25, 2012 – iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that the rate of fraudulent online transactions it stopped in Europe is 60 percent greater today than a year ago. The rate of fraudulent transactions originating from Europe jumped from 1.3 percent from January to March 2011 to 2.1 percent from January to March 2012 and showed upward movement every quarter in between. The top three European countries for online fraud over the last year were Romania, Lithuania and Croatia according to iovation. From April 2011 to April 2012, iovation stopped about 15 million fraudulent online transactions in Europe. To keep pace with demand from European businesses combating this growth in fraud, iovation also announced today that it has launched its new European data center.

“Since 43 percent of iovation’s business is international, with Europe leading the way, it is imperative that we do everything possible to ensure our growing overseas customer base has immediate, actionable information to stop fraudulent transactions as quickly as possible,” said Scott Waddell, Vice President of Technology at iovation. “With this state of the art data center, our European customers can harness iovation’s fraud fighting power with speed and precision that is unmatched in the industry.”

The European data center is located in Amsterdam. It is leveraged to serve content for iovation customers using iovation’s ReputationManager 360 solution, which has the unique capability of deciding what is and isn’t a trustworthy online transaction through its patented device reputation capabilities. By exposing the reputation and hidden relationships of mobile phones, tablets and computers, iovation helps businesses know who to trust online.

Although the European data center can be used to serve content to users worldwide, it will principally service iovation customers in Europe and Africa. By being located geographically closer to these customer locations, performance is optimized, enabling customers to leverage iovation for more end-user touch points with lower latency and greater precision.

There are three main technological advantages to having a European data center: