The report also contained the deconstruction of an identity spoofing fraud ring in seven steps:

A fraudster was tracked carrying out a series of transactions, many of which were high-risk and fraudulent, across multiple organizations within the Digital Identity Network, which found the transactions linked to one device, despite the fraudster attempting to bypass device fingerprinting.
The fraudster tried to open accounts at lenders and financial institutions, as well as perform several logins and payments across multiple organizations. "This could indicate a potential identity spoofing fraud, with the fraudster testing multiple identity credentials to open accounts, takeover good user accounts or monetize stolen credit cards." Several transactions marked as confirmed fraud, included a payment transaction at the e-commerce merchant.
The e-commerce merchant took the device intelligence from this fraudulent pattern of transactions and cross-correlated it to its own network.
The e-commerce merchant linked the original fraudulent device to five other devices via one unique shipping address. The additional five devices also connected to confirmed fraud attempts at the e-commerce merchant, creating a larger, complex fraud network.
One of these devices was associated with a fraud network using store pick-up, with multiple email addresses, IP addresses, credit cards and identities.
Three of these devices were associated with digital gift card fraud on the merchant's website, and were also associated with multiple email addresses, IP addresses and credit cards.
The final device was associated with a series of fraudulent payments in-store using the merchant's own payment card method. This fraud also logged multiple payment cards and identities.

Instant Insights /

LexisNexis Reports Dramatic Shift of Attacks Targeting Mobile Devices

Related Stories

Recommended For You