Detect and act on fraudulent transactions before legitimate customers are compromised
Device fingerprinting is a crucial tool in fraud detection as it helps identify and track devices based on unique attributes such as hardware specifications and software settings to create a distinct digital profile for each device. By recognising known malicious devices, businesses can proactively block fraudulent activities.
Fraudsters often attempt to mimic legitimate behaviour, but subtle deviations - such as unusual login times, navigation patterns, transaction amounts or device motion may indicate fraud. By comparing the data to the user's behavioural profile or a median behaviour profile in the case of a new user, anomalies can be detected real-time to trigger alerts and risk scores for fraud investigators to action upon.
Malware such as Remote Access Tools (RATs) and trojans can infect a customer's smartphone and obtain privileged access rights. Detect unauthorised remote access attempts through suspicious device settings, screen sharing indicators and flag installation of known RAT software with suspicious permission requests.