Device Fingerprinting Solutions for Fraud Mitigation
Device fingerprinting solutions is an incredibly useful tool for fraud mitigation teams. It allows them to detect fraudulent behavior that might not be reflected in traditional cookie or IP data.
What are the applications of fingerprinting for fraud prevention?
In its simplest form, device fingerprinting is done by placing a small piece of code, typically in the header of the web page, that captures all available information about a user’s device. This information is then compiled and stored in a database accessible to the website owner. From there, a unique fingerprint, or hash, can be calculated and assigned. As a result, it’s possible to detect multiple user accounts registered on the same physical device or even a single account being used across numerous devices.
This type of tracking is a common technique for fraud management, but it is also susceptible to attacks. For instance, hackers have found ways to evade fraud prevention systems that rely on the browser’s user-agent string. As a result, fingerprinting is no longer the silver bullet for all fraud detection issues.
While device fingerprinting is still a very useful tool, it must be used in conjunction with other risk identification techniques. It’s also important to note that if a website wishes to use device fingerprinting to gather user information for marketing purposes, they must gain explicit consent from users beforehand. This is because it can lead to privacy concerns for many consumers.