London, UK - 5th February 2008 - In a keynote speech at The Retail Business Show 2008, Ori Eisen, Founder, Chairman and Chief Innovation Officer of The 41st Parameter Inc. (www.the41.com) - the leading provider of Internet Fraud Management Services and Technology for eCommerce and financial services - will show how retailers can ensure greater security of their online business operations with leading Device ID technology. Such measures will allow businesses to complete forensic identification of devices to monitor suspicious or fraudulent account activity and help protect sensitive customer data.
Identity fraud has increased significantly over the last five years, which has led banks to insist that retailers take greater responsibility to ensure the security of their online business operations, with those ignoring recommendations liable to face enforcement action. In his presentation, Ori Eisen will provide retailers with guidelines to evaluate their risk to online fraud exposure, as well as an overview of best practice strategies.
"While many retailers currently employ basic online security procedures such as a log-in process, the Financial Services Act now recommends retailers add another level of security to Internet operations," comments Ori Eisen, Founder, Chairman and Chief Innovation Officer of The 41st Parameter. "Device ID works by tracking the identity of the PC involved in making an online purchase. Since the majority of online customers tend to interact from only a few locations (e.g. home and work), firms can use characteristics of the PCs used such as the machine's IP address, hardware profile (make and model), and other parameters as a form of two-factor authentication to track the identity of the purchaser."
The 41st Parameter helps organisations pinpoint suspect orders without disrupting the flow of business or the online experience for legitimate customers. Its unique data analysis solution provides detailed device identification by highlighting account activity and transactions that are most likely to be fraudulent. The 41st Parameter's agent-less Client Device Identification solutions require no user enrollment or registration, no cookies, downloads, installations or any change in consumer behaviour and provide 100 per cent coverage of the online channel.
About the 41st Parameter
As a leader in online fraud detection and prevention solutions, The 41st Parameter is instrumental in reducing online fraud for eCommerce and financial institutions through highly accurate anti-fraud capabilities. The Company's patent-pending technologies provide a highly accurate analysis of legitimate and fraudulent transactions, which is made possible by pairing the unique, forensic identification of PCs and online devices with customer-entered information. In addition to identifying and preventing fraud, the Company's products help improve operational efficiencies, saving time, money and protecting legitimate customers. None of the Company's solutions require end-user registration, enrolment, downloads or installations. To find out how the Company is making fraud history, visit www.the41.com
IBA - PR for The 41st Parameter
Tel: 01780 721433
The 41st Parameter
1 Canada Square
London - E14 5DY
Phone: +44(0)207 712 1671