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Data sent to Gambling Insider from iovation’s 2019 Gambling Industry Report shows 9.2m fraudulent gambling transactions were stopped in 2018, with 518m transactions processed overall. The cyber-security firm’s annual report focuses on the trends which drove gambling last year and provides insights into how to drive differentiation with players in 2019.
– Gambling Insider
In today’s podcast, we hear that South Korea’s Defense Ministry has disclosed a cyber espionage incident. Fancy Bear sticks to its old tricks with Lojax. The US Justice Department is rumored not to be done with Huawei—this time an IP theft beef is believed to be coming. A big database exposure case in Oklahoma. And an update on yesterday's bogus Washington Post edition: it was a prank by the Yes Men. Mike Benjamin from Century Link with an update on the Mylobot botnet. Guest is Angie White from iovation on PSD2, the payment services directive update.
eWEEK's new IT products and services section spotlights the leaders in each sector, which include enterprise software, hardware, security, on-premises-based systems and cloud services, and also discusses promising new companies as they come into the market. iovation offers a suite of authentication and fraud detection solutions that help businesses secure their networks with advanced authentication and fraud prevention services.
PORTLAND, Ore., Nov 20, 2018 -- iovation, a TransUnion company, today announced Bala Krishnamurthy as Chief Product Officer and newest member of the executive team. Bala Krishnamurthy joined iovation from TransUnion where he was head of product for IDVision - Risk & Identity Solutions. He will lead strategy and direction for iovation’s product suite and will be based in the company’s Portland, Ore. headquarters.
“Bala brings to iovation tremendous domain experience in the rapidly evolving identity solutions landscape and a strong reputation launching successful products and driving revenue growth in his decade-plus at TransUnion,” said Greg Pierson, CEO and co-founder for iovation. “With Bala leading our product direction and strategy, we’re in a perfect position to continue developing the most innovative fraud prevention and authentication solutions on the market and delivering them to businesses worldwide.”
Bala Krishnamurthy is a seasoned product executive and growth leader with proven track record of launching highly successful products and accelerating revenue growth. He served in senior product leadership roles at TransUnion for over 10 years. Under his guidance, TransUnion’s IDVision solutions were recognized by Javelin as a 2017 Fraud and Identity Leader in Innovation. These have made a significant impact on customers and delivered double-digit revenue growth year over year.
“I’ve watched iovation closely over the years and admired the company’s commitment to making the internet a safer place through some of the market’s most secure and frictionless device intelligence solutions,” said Bala Krishnamurthy. “As fraudsters evolve their tactics and customer expectations increase, preventing fraud and a strong user experience is no small task. iovation has been doing this since 2004 and I am thrilled to bring my experience to the company to help develop the most advanced fraud prevention and authentication solutions that help businesses protect their brand.”
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TransUnion (NYSE: TRU) together with iovation, a TransUnion company, today announced at Money20/20 the launch of IDVision with iovation, an enhanced suite of identity management, authentication and fraud prevention solutions that protect businesses from fraud while enabling great experiences for their online users.
IDVision with iovation brings together a combination of TransUnion’s extensive personal data with iovation’s digital data. This results in a global network effect of fraud and risk insights that allow businesses to quickly and accurately determine good customers from fraudulent ones. In addition to other capabilities, iovation’s marquee FraudForce Device-based Reputation product has been integrated into the enhanced suite of solutions.
“Ensuring top-notch security with an excellent customer experience is fundamental for businesses to effectively grow and thrive in a digital world,” said Geoff Miller, head of global fraud and identity solutions for TransUnion. “As more consumers move online, data compromises and fraud threats continue to rise. This has magnified the need for robust identity verification and fraud detection tools that do not hinder the customer experience. IDVision with iovation combines TransUnion’s collection of one billion consumer records with iovation’s five billion digital devices into a seamless solution that allows businesses to build a defined identity strategy.”
IDVision’s fraud identification and mitigation capabilities will work together with iovation’s longstanding fraud prevention solutions – which have identified or prevented nearly 145,000 fraud attacks daily and have protected up to 7 billion transactions since January 1, 2018. Additionally, iovation’s database contains over five billion identified devices to date.
Underscoring the need for this type of solution, a recent study conducted by Forrester Consulting, uncovered that approximately 70% of financial services firms reported their customers prefer to use digital channels over other channels. Furthermore, 64% of financial institutions indicated that the growth of online interactions has increased fraud and identity theft risk.
IDVision with iovation quickly deploys a holistic strategy to fight and detect fraud by:
TransUnion and iovation will be showcasing IDVision with iovation at Money20/20 USA October 21-24, 2018 in Las Vegas. Please visit the TransUnion booth at 2121.
TransUnion is a leading global risk and information solutions provider to businesses and consumers. The company provides consumer reports, risk scores, analytical services and decisioning capabilities to businesses. Businesses embed its solutions into their process workflows to acquire new customers, assess consumer ability to pay for services, identify cross-selling opportunities, measure and manage debt portfolio risk, collect debt, verify consumer identities and investigate potential fraud. Consumers use its solutions to view their credit profiles and access analytical tools that help them understand and manage their personal information and take precautions against identity theft. www.transunion.com
We call this Information for GoodSM.
iovation, the leading provider of device reputation and behavioral insights for fraud detection and consumer authentication, is hosting its 8th annual Fraud Force Summit, from October 2-4, 2018 in Chicago at the Kimpton Gray Hotel.
Fraud Force Summit brings together top fraud and security professionals from across the globe, including Fortune 500 executives and world-renowned anti-fraud professionals in the finance, insurance, retail, social media, travel, ticketing, telecommunications and gaming industries.
Attendees will hear from leading experts including the recently announced former White House Cybersecurity Advisor, Michael Daniel, who will keynote the event. Daniel currently serves as the President of the newly formed Cyber Threat Alliance (CTA) and was the Cybersecurity Advisor to President Obama during his second term. In his keynote, titled “A 360 Degree Outlook On The Global Security Landscape,” Daniel will share insights distilled from his service during the Obama years, since refined at the CTA, and will provide a global outlook on security and risk management in the 21st century.
In addition, iovation customers will discuss how they spot and stop fraud rings, data models they've built to uncover fraudulent behavior and strategies and techniques they are deploying to combat fraudsters.
“Fraud Force Summit will feature thought leadership from industry-leading fraud and authentication experts. The event allows industry fraud professionals, from across all industries and businesses, to come together, share knowledge and learn best practices on how to fight the daily fight against fraud,” says Greg Pierson, CEO of iovation. “In light of everything we’re facing in cybersecurity today, this event is invaluable for a deep understanding into the techniques fraudsters use and how businesses can effectively combat them.”
Key themes, emerging from 20+ panel sessions and keynotes, include:
This year’s event is sponsored by three of iovation’s strategic partners, Fiserv, Entrust & Onfido. Having technology partnerships with these key leaders in the consumer fraud prevention and authentication space allows iovation to continue to grow and expand within the market to provide new and innovative solutions.
iovation, a TransUnion company, the leading provider of device reputation and behavioral insights for fraud detection and consumer authentication, today announced that former White House Cybersecurity Advisor Michael Daniel will keynote Fraud Force Summit, held October 2 - 4, 2018 in Chicago. Daniel currently serves as the President of the newly formed Cyber Threat Alliance (CTA) and was the Cybersecurity Advisor to President Obama during his second term.
In his keynote, titled “A 360 Degree Outlook On The Global Security Landscape,” Daniel will share insights distilled from his service during the Obama years, since refined at the CTA, and will provide a global outlook on security and risk management in the 21st century. He will stress the importance of collaboration and information sharing across businesses and industries as key to effective defense against online adversaries. He will also discuss the potential impact of the Trump administration’s approach to cybersecurity and the heightened power of the Internet of Things and Big Data, to thrive in an interconnected world. In fact, earlier this month he appeared on CBS News’ 60 Minutes to discuss his involvement in investigating the cyber assault on state voting systems that US intelligence tied to Russia.
“iovation’s Fraud Force Summit is a tremendous opportunity for me to share my insights and learnings from the Obama administration with some of the world’s most innovative companies facing real-world threats and attacks on a daily basis,” said Daniel. “With new targets and new approaches from cyber criminals, today’s cybersecurity ecosystem is as complicated and vulnerable as ever. I hope attendees come away from this session with a better understanding of the landscape, risk and tangible actions they can take to thrive.”
As one of the world’s top cybersecurity experts, Daniel specializes in managing cyber risk to critical infrastructure systems, such as financial services assets and industrial control systems. He leads a team of cybersecurity giants at CTA -- including Intel, Cisco and Symantec -- to improve information sharing about threats and cybercrime.
“It is an honor to host Michael Daniel at the Fraud Force Summit. He has played a pivotal role in protecting our government in some of the most notorious cyber incidents the world has ever seen, including the Russian efforts to compromise the United States electoral process, and the attack on Sony Pictures Entertainment,” said Greg Pierson, CEO of iovation. “Michael’s experience on the front lines of cybersecurity brings an invaluable asset to our customers, partners and guests who will walk away with a global outlook on security and risk management in today’s evolving landscape.”
Additionally, Fraud Force attendees will hear from iovation customers how they spot and stop fraud rings, data models they've built to uncover fraudulent behavior, techniques they are deploying to beat fraudsters at their own game, and unique tips and tricks they use in their daily fight against fraud. Fraud Force Summit attendees include Fortune 500 executives and world-renowned anti-fraud professionals in the finance, insurance, retail, social media, travel, ticketing, telecommunications and gaming industries.
For more details and to register, please visit fraudforcesummit.com/chicago
ABOUT MICHAEL DANIEL Michael Daniel is the former Special Assistant to the President and Cybersecurity Coordinator at the White House from 2012-2016. For four and a half years, Daniel led the development of national and international cybersecurity strategy and policy for the United States and oversaw implementation of those policies; in this capacity, he ensured that the Federal Government was effectively partnering with the private sector, nongovernmental organizations, other branches and levels of government, and other nations. Prior to his current position, he spent 17 years at the Office of Management and Budget, where he played a key role in shaping intelligence budgets and resolving major policy issues including cybersecurity. He received a B.A. in public policy from Princeton and an M.A. in public policy from Harvard.
In May, the U.S. Supreme Court struck down a 1992 law that effectively prohibited sports gambling in all states except Nevada and, to a limited extent, Delaware, Montana and Oregon. As new players are welcomed into the sports betting ring, fraudsters will attempt to take advantage and, unfortunately, their techniques continue to evolve.
Inc. Magazine, puts out an annual list of fast-growing companies who choose to share revenue figures with the publication. The list of 5,000 private companies typically includes more than 60 Oregon businesses that take the opportunity to trumpet their growth. This year, iovation made the list.
– Oregon Live