Azure Monitor & Application Insight to monitor Infrastructure & Application
My Phone Stole My Credit Card
1. My Phone Stole My Bank Card.
(But my carrier saved me.)
Location in Mobile Payment Fraud
Rip Gerber CEO, Locaid
Mobile Payments Conference 2012
March 9, 2012 San Jose, CA
22. Declines hurt
Expect greater card abandonment as a result of a decline
3x Cardholders declined in a cross-border POS transaction were
three times more likely to stop using their cards
6x Premium (high-limit) cardholders are six times more likely to
abandon their cards
Source: High Spenders defined the top 10% of accounts, ranked by dollar spend from September – October 2010
Source: Visa White Paper - Effects of Declines on Cardholder Behavior 2010 and Visa Decision Sciences & Analytics
22
27. Location and payment fraud
Location Based Services allow issuers to utilize the location of a cardholder’s wireless
device as an added layer of authentication.
BENEFITS
• Optimize approve/ decline decisions
• Reduce unnecessary customer contact
and intervention
• Increase issuer operational efficiency
• Improve the customer experience
27
30. How location works in payments.
Compare Merchant Location & Phone
Provide a Fraud Indication Score
Significantly Reduce Fraud Costs
Bank Benefits
• Reduce false positive Cases
• Reduce case management load
• Reduce customer service interventions
• Work further down the score range
• Improve algorithms of other fraud
detections/metrics
• Enhances bank brand (security, trust)
• Reduces cardholder interventions
• Improves cardholder experience
vs =
Location matching results in close proximity
31. How location stops ATM skims.
Compare ATM Location & Phone
Provide a Fraud Indication Score
Identifies Fraudulent Activity
Bank Benefits
Qualifies transactions as fraudulent
Justifies fraud investigation investment
Focuses resources on problem areas
Improves ROI of fraud pursuits
Run away Fraud is mitigated
vs =
Location matching results not close proximity
34. Locaid is Location-as-a-Service
Locaid Locates Every Device On Every For Any
Network Location Need
Locaid runs the Locaid reach covers Locaid delivers
Locaid finds every
largest LaaS gateway 350M devices. ubiquitous location.
device on the network.
and carrier reach No app to download. Indoors and out.
For any mobile
No user action needed. Geofencing, location-
application.
Any device. based SMS, Global
Anywhere. coverage, location
analytics. Any location
need.
The world’s first and largest
LaaS company
35. Credit Card Fraud
Authenticating phone location
reduces false positives of $400M/yr.
Mobile Marketing
Proximity marketing without battery
drain, anywhere.
Device
Shipment Tracking APIs
Locating packages in over 160
countries reduces logistics costs.
Mobile Gaming Only
The world’s largest
NavBuilder
network location permits wagers on
LaaS company
Inside
consumer mobile phones.
Family Safety Able
to find loved ones without app
download, on any device.
35
36.
37.
38. Locaid Technologies
This is not me.
(But we can locate her phone.)
Thank you.
Rip Gerber
President & CEO
Editor's Notes
The mobile space is fraudsters' biggest opportunity for the future, largely because many people still see their phone as a communication device, rather than something that they have to keep secure."
The number of U.S. identity fraud victims rose 12 percent to 11.1 million adults last year, the highest level since the survey began in 2003. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010) The average fraud resolution time dropped 30 percent to 21 hours. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010)Nearly half of fraud victims now file police reports, resulting in double the reported arrests, triple the prosecutions and double the percentage of convictions in 2009. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010)The number of U.S. identity fraud victims increased 22 percent in 2008 to 9.9 million adults. However, the total annual fraud amount jumped just 7 percent to $48 billion. The report said this is because "consumers and businesses are detecting and resolving fraud more quickly." (Source: Javelin Strategy & Research, February 2009 study.)Women were 26 percent more likely to be victims of identity fraud than men in 2008. (Source: Javelin Strategy & Research, February 2009 study.)71 percent of fraud incidents "began occurring in less than one week from when the data was first stolen, up from 33 percent in 2005." (Source: Javelin Strategy & Research, February 2009 study.)"Lost or stolen wallets, checkbooks and credit and debit cards" made up 43 percent of all ID theft incidents in which the "method of access" was known. (Source: Javelin Strategy & Research, February 2009 study.)Credit and debit card fraud is the No. 1 fear of Americans in the midst of the global financial crisis. Concern about fraud supersedes that of terrorism, computer and health viruses and personal safety. (Source: Unisys Security Index: United States, March 2009)Arizona leads the nation in identity theft complaints per 100,000 people. In 2008, the state had 149 complaints about ID theft per 100,000 people. California (139.1), Florida (133.3), Texas (130.3) and Nevada (126.0) rounded out the top five. (Source: Federal Trade Commission, February 2009 survey)South Dakota has the fewest identity theft complaints per 100,000 people in the nation. In 2008, the state had 33.8 complaints about ID theft per 100,000 people. North Dakota (35.7), Iowa (44.9), Montana (46.5) and Wyoming (46.9) rounded out the bottom five. (Source: Federal Trade Commission, February 2009 survey)Brownsville-Harlingen, Texas, is the metropolitan area with the largest number of ID theft complaints per 100,000 people. In 2008, the area had 366.8 complaints per 100,000 people. Napa, Calif., was second with 351.3. (Source: Federal Trade Commission, February 2009 survey)Read more: http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php#ixzz1oYOKbcfJCompare credit cards here - CreditCards.com
Declines Negatively Affect Cardholder Behavior
The number of U.S. identity fraud victims rose 12 percent to 11.1 million adults last year, the highest level since the survey began in 2003. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010) The average fraud resolution time dropped 30 percent to 21 hours. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010)Nearly half of fraud victims now file police reports, resulting in double the reported arrests, triple the prosecutions and double the percentage of convictions in 2009. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010)The number of U.S. identity fraud victims increased 22 percent in 2008 to 9.9 million adults. However, the total annual fraud amount jumped just 7 percent to $48 billion. The report said this is because "consumers and businesses are detecting and resolving fraud more quickly." (Source: Javelin Strategy & Research, February 2009 study.)Women were 26 percent more likely to be victims of identity fraud than men in 2008. (Source: Javelin Strategy & Research, February 2009 study.)71 percent of fraud incidents "began occurring in less than one week from when the data was first stolen, up from 33 percent in 2005." (Source: Javelin Strategy & Research, February 2009 study.)"Lost or stolen wallets, checkbooks and credit and debit cards" made up 43 percent of all ID theft incidents in which the "method of access" was known. (Source: Javelin Strategy & Research, February 2009 study.)Credit and debit card fraud is the No. 1 fear of Americans in the midst of the global financial crisis. Concern about fraud supersedes that of terrorism, computer and health viruses and personal safety. (Source: Unisys Security Index: United States, March 2009)Arizona leads the nation in identity theft complaints per 100,000 people. In 2008, the state had 149 complaints about ID theft per 100,000 people. California (139.1), Florida (133.3), Texas (130.3) and Nevada (126.0) rounded out the top five. (Source: Federal Trade Commission, February 2009 survey)South Dakota has the fewest identity theft complaints per 100,000 people in the nation. In 2008, the state had 33.8 complaints about ID theft per 100,000 people. North Dakota (35.7), Iowa (44.9), Montana (46.5) and Wyoming (46.9) rounded out the bottom five. (Source: Federal Trade Commission, February 2009 survey)Brownsville-Harlingen, Texas, is the metropolitan area with the largest number of ID theft complaints per 100,000 people. In 2008, the area had 366.8 complaints per 100,000 people. Napa, Calif., was second with 351.3. (Source: Federal Trade Commission, February 2009 survey)Read more: http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php#ixzz1oYOKbcfJCompare credit cards here - CreditCards.com
The number of U.S. identity fraud victims rose 12 percent to 11.1 million adults last year, the highest level since the survey began in 2003. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010) The average fraud resolution time dropped 30 percent to 21 hours. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010)Nearly half of fraud victims now file police reports, resulting in double the reported arrests, triple the prosecutions and double the percentage of convictions in 2009. (Source: Javelin Strategy & Research, "Identity Fraud Survey Report," February 2010)The number of U.S. identity fraud victims increased 22 percent in 2008 to 9.9 million adults. However, the total annual fraud amount jumped just 7 percent to $48 billion. The report said this is because "consumers and businesses are detecting and resolving fraud more quickly." (Source: Javelin Strategy & Research, February 2009 study.)Women were 26 percent more likely to be victims of identity fraud than men in 2008. (Source: Javelin Strategy & Research, February 2009 study.)71 percent of fraud incidents "began occurring in less than one week from when the data was first stolen, up from 33 percent in 2005." (Source: Javelin Strategy & Research, February 2009 study.)"Lost or stolen wallets, checkbooks and credit and debit cards" made up 43 percent of all ID theft incidents in which the "method of access" was known. (Source: Javelin Strategy & Research, February 2009 study.)Credit and debit card fraud is the No. 1 fear of Americans in the midst of the global financial crisis. Concern about fraud supersedes that of terrorism, computer and health viruses and personal safety. (Source: Unisys Security Index: United States, March 2009)Arizona leads the nation in identity theft complaints per 100,000 people. In 2008, the state had 149 complaints about ID theft per 100,000 people. California (139.1), Florida (133.3), Texas (130.3) and Nevada (126.0) rounded out the top five. (Source: Federal Trade Commission, February 2009 survey)South Dakota has the fewest identity theft complaints per 100,000 people in the nation. In 2008, the state had 33.8 complaints about ID theft per 100,000 people. North Dakota (35.7), Iowa (44.9), Montana (46.5) and Wyoming (46.9) rounded out the bottom five. (Source: Federal Trade Commission, February 2009 survey)Brownsville-Harlingen, Texas, is the metropolitan area with the largest number of ID theft complaints per 100,000 people. In 2008, the area had 366.8 complaints per 100,000 people. Napa, Calif., was second with 351.3. (Source: Federal Trade Commission, February 2009 survey)Read more: http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php#ixzz1oYOKbcfJCompare credit cards here - CreditCards.com
Mobile and WiFi-based ad network JiWire has released its Q4 Mobile Audience Insights Report. There’s some great data in the report. I’ll focus on a few items of interest pertaining to advertising and marketing.As the headline asserts, JiWire found that 75% of its survey respondents (US, UK) said they had taken action after exposure to a locally relevant ad.
