A person can use the same tools for different purposes in everyday life. Similarly, in the digital world, numerous tasks can be implemented using the same principle. Device fingerprinting is a universal method that is used to solve many tasks. One of the main is the defense against online fraud. Device fingerprinting has demonstrated convincing efficiency in preventing fraudulent actions such as:
- stealing accounts for fraudulent purposes
- aggressive use of bots
- deceptive actions with payments
As enterprise risk management tools, device fingerprinting can be recommended to businesses of all kinds.
Multifunctionality of Device Fingerprinting
Mechanisms of device fingerprinting can be used for different purposes. Some of them, such as fraud prevention, are socially approved. Others, such as surveillance and collection of personal data raise concerns among the public. In general, this technique can be employed for implementing the following tasks:
- As a risk management software tool, device fingerprinting can detect fraudulent traffic and alarm businessmen to suspicious activity.
- It can be used for determining the preferences of visitors of websites. This technology allows businessmen to register all activities of users on their websites. These data can be later used for analytics and understanding perspectives for future business development.
- Device fingerprinting is also used for determining the kinds of ads that should be shown to particular users.
- As transaction monitoring tools, device fingerprinting allows discovering payment cheating and protecting businesses from major funds losses.
Device fingerprinting as Fraud Detection Tool
The technology for taking fingerprints from digital devices became most widespread as one of the counteractions against fraud tools. It effectively helps stop fraudulent actions of different kinds. Just like in real life, when criminals know that a certain place is under video surveillance, they stop committing criminal acts. Internet scammers also fear exposure through device fingerprinting. That is why, knowing that your company uses it, they will bypass you.
The ways to determine digital devices are abundant. Risk management software tools vary. Programs developers search for the most efficient ways to find out suspicious activities at the earliest possible stages. The main task is to detect fraudsters faster than they will be able to do damage to your business activity.
Covery on the Guard of Your Business Interests
Online service Covery specializes in the fight against fraud. It offers a wide set of useful software against fraud tools. This software is successfully employed by companies from Europe and the USA. Device fingerprinting is one of its most popular and effective enterprise risk management tools. To understand the work of this tool you may request a demo program. The mechanism of its work is completely clear:
- You need to find the script string first. It is situated on the Documentation page of the Covery website.
- Take the script string and insert it wherever you need. It may be any page you want to check in relation to the suspicious activity of customers.
- As a result you will receive a unique set of symbols called “hash”.
- Then you should direct the obtained hash to the Decision API provided by Covery and get a response. The program will evaluate the suspicious customer and make recommendations.
- Decisions will be made by you on the ground of information gathered. You can even create lists of unwanted consumers based on the information collected.
The device fingerprinting technique is very useful as transaction monitoring tools. You can always apply the above-mentioned procedure on the payment page and detect fraud.
Just as doing business offline requires certain protection mechanisms, doing business online requires its own fraud detection tools. Device fingerprinting is one of the most effective risk management software tools known today. Take it as a shield for your business activity.