Incognia Predicts Fraudulent Activity Using Indoor Positioning Signals
Innovator of Next-Generation Identity Solutions Prevents Recurring Fraud
Incognia, the innovator of next-generation identity solutions that enable secure and seamless digital experiences, is announcing Environment Linked to Fraud (ELF), a new detection feature that prevents recurring fraud. ELF flags devices as risky if they have been associated with indoor positioning signals previously linked to confirmed fraud. According to a recent study, recurring fraud, which refers to the repeated exploitation of the same vulnerabilities or the reuse of identical fraud techniques across multiple instances or targets, has increased 46% since last year. This type of fraud is particularly challenging because it capitalizes on systemic weaknesses that are either difficult to identify or slow to address.
Recurring fraud schemes are often highly scalable, enabling fraudsters to replicate their approach across various accounts or platforms with minimal effort. Bad actors will use multiple devices and factory reset them repeatedly to make them appear new and bypass device identification checks. ELF by Incognia introduces a new layer of fraud detection that links devices based on shared indoor positioning signals, ensuring that fraudsters cannot hide behind new devices or system resets any longer.
[p"Bad actors are using sophisticated techniques to improve scalability and increase their return on investment - simply banning accounts or devices is no longer enough to stop them" said André Ferraz, Co-founder and CEO at Incognia. "Fraud prevention is all about raising the barrier to entry" said Ferraz. "It is easier to reset a device than it is to set up in a new location. Incognia’s ELF technology makes it possible for companies to identify suspicious activity across accounts and devices by flagging indoor signal environments that are associated with previous instances of fraud"[/p]Incognia is used by global companies across industries and recently announced a new partnership with Grubhub. Initial testing shows that Incognia has already proven to increase order profitability and decrease customer service costs for the leading U.S. food ordering and delivery marketplace. ELF adds an important signal in assessing the risk of repeat offenders.
For more information, visit http://www.incognia.com
About Incognia
Incognia is the innovator of next-generation identity solutions that enable secure and seamless digital experiences. With its persistent device fingerprint solution, Incognia combines best-in-class device recognition signals, location analysis, and tamper detection features for frictionless user verification and fraud prevention. Incognia’s customizable risk assessment and actionable insights empower companies in food delivery, ride-hailing, marketplace, and financial services to protect their reputation, retention, and revenue.
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