Prevent Multi-Account Fraud With Device TrackingPrevent Multi-Account Fraud With Device Tracking

Prevent multi-account fraud with device tracking

Fraudsters use multiple accounts to abuse promotional offers, manipulate product reviews and circumvent purchase limits. In ecommerce, this type of fraudulent activity can drain revenue and damage reputations. In gambling and bookmakers, it leads to money laundering and circumvention of legal restrictions. In gaming, it allows users to exploit sign-up bonuses and engage in betting fraud.

Prevent multi-account fraud with device tracking -accounting fraud can also expose businesses to intellectual property violations, if users pirate content and distribute copyrighted material illegally on a platform. In these instances, a company can face legal action under relevant theft and fraud statutes.

Comprehensive API Documentation for Fraud Prevention: A Must-Read Guide

While multi-accounting fraud may not be technically illegal, it often violates terms of service agreements or other laws and regulations. As such, companies need to adopt robust verification processes to protect their user base and ensure business integrity.

To prevent multi-accounting fraud, advanced technical solutions can leverage device fingerprinting to identify and flag suspicious account creation or login attempts. This technique analyzes unique characteristics of a device (like operating system and hardware configuration) to detect patterns that indicate fraudulent activities. A device fingerprint can also be combined with tamper-resistant location intelligence to prevent fraudsters from switching devices and locations to avoid detection.

In addition, systems can utilize artificial intelligence to monitor user behavior for heightened risk patterns. Using a combination of data from various sources, machine learning algorithms can help spot unusual account changes, rapid login attempts and navigation patterns, and more. These systems can then alert businesses to potentially suspicious behavior, so they can take proactive steps to protect their users and mitigate loss proactively.…