ReD Launches IP Geolocation for Fraud Prevention Solution
Nov. 23, 2011
Anti-fraud technology provider ReD said it has launched its Internet Protocol (IP) geo-location detection technology that enables the London-based company to track fraud threats based on the ability to accurately locate a device. ReD said one technique fraudsters have been using to trick merchants is by “anonymizing” their IP address, making it appear that a computer user based in one place was actually somewhere else. “IP anonymizing has been a long-standing issue for many retailers,” said Erika Gallo, director of global risk management at ReD. “Spikes in fraud from certain countries have, in some cases, led to a halt in international expansion. In an ideal world, retailers would like to be able to accept all genuine orders, wherever they originate from—working with ReD allows retailers to do this.” The company said since it began trials on the new technology, there has been a 30-to-50 percent improvement in orders processed successfully.