FAQ

Fraud prevention is essential for minimizing financial losses, safeguarding your reputation, and maintaining operational efficiency. By prioritizing fraud prevention, you’re not only defending against immediate financial threats but also enhancing trust in your brand, crucial for long-term success and customer loyalty.

Exploring new fraud prevention platforms is crucial because it’s challenging for a single solution to address all fraud types, as fraudsters constantly evolve their tactics. 

A platform offering diverse tools like geolocation, device fingerprinting, and IP risk analysis can provide a comprehensive defense, simplifying management and offering a more holistic security approach.

This multiplicity not only ensures you’re always a step ahead in the dynamic landscape of digital fraud, enhancing your ability to protect your operations effectively but also guards against the complacency that comes from sticking too long with a single platform.

On the flip side, reluctance to adopt new technologies, platforms, and data points can leave you vulnerable. By not exploring fresh innovations in the anti-fraud world and the technology used by fraudsters themselves, you risk being blindsided by the latest tactics and missing out on advanced protective measures.

GeoComply offers a robust defense against a wide array of fraud types, ensuring comprehensive protection through the leverage of consortium data. This approach enhances our ability to know if a transaction, login, or account opening comes from a known fraudulent device or location. Additionally, we utilize geolocation to cluster potentially fraudulent transactions, regardless of the other data points that fraudsters might present.

Fraud types we help with include:

• Subscription Fraud / Account Setup Fraud: Helps prevent the creation of fraudulent accounts with stolen or synthetic identities, safeguarding the initial entry point into your services.
• Account Takeover: Identifies unusual access patterns and location discrepancies to block unauthorized attempts to hijack existing user accounts, further bolstered by our capability to detect and respond to access from known fraudulent devices or locations.
• Transactional Fraud: Monitors transactions for signs of fraud, such as unusual purchase behaviors or locations, to stop unauthorized activities in real-time. Our approach includes clustering transactions that may appear legitimate individually but reveal patterns of fraud when analyzed together.
• Abusive Chargebacks: Differentiates between legitimate returns and fraudulent chargeback claims, protecting your revenue and maintaining customer trust. The use of consortium data and advanced geolocation techniques plays a crucial role in identifying and preventing such abuse.

By integrating these strategies, GeoComply not only provides a comprehensive defense mechanism but also ensures that businesses stay ahead of fraudsters through the innovative use of technology and shared intelligence.

GeoComply is not limited to addressing iGaming fraud.

While we’re recognized as a leader in the iGaming sector, GeoComply’s technology extends far beyond this area. Our platform is built on compliance-grade geolocation technology designed to meet the stringent expectations of the iGaming industry, ensuring the highest accuracy.

This robust foundation makes GeoComply’s technology a versatile tool capable of combating various types of fraud across multiple industries, providing reliable protection wherever precision and trust are paramount.

GeoComply combats subscription fraud by scrutinizing the device used for subscription and pinpointing the activation’s origin. Our technology enhances security through insights gained from our unparalleled industry-wide data. 

This comprehensive approach ensures subscribers are legitimate and safeguards against fraudulent account creation and misuse, making GeoComply a powerful ally in maintaining the integrity of subscription-based services.

The ability to observe where new accounts are being created, and from which device, offers a unique perspective for fraud teams. Despite the array of information that fraudsters might provide, and even if they’re utilizing multiple devices, the capability to discern that they are operating from a specific location – such as a particular house – provides critical insights. 

This allows us to highlight suspicious activations that could easily be overlooked. The nuanced understanding of activation patterns and the geographical context of account creation adds a potent layer to our fraud prevention strategies, ensuring a higher level of security and integrity for our clients’ services.

GeoComply enhances user protection against account takeovers (ATOs) by employing proprietary device fingerprinting to accurately identify and authenticate legitimate users. We assess the geographical origin of access attempts, helping to pinpoint and block unauthorized access from unexpected locations.

Additionally, GeoComply’s technology is adept at detecting malicious apps and suspicious behaviors on devices, further safeguarding users from ATO attempts. This multi-layered approach ensures a higher level of security for user accounts.

GeoComply combats transactional fraud by meticulously tracking the origin of each transaction, identifying whether the device involved is recognized, has a history of fraudulent use, or exhibits suspicious activities across other merchants.

Additionally, it effectively detects attempts to obscure user locations using VPNs, TOR, and similar technologies, adding an extra layer of security to prevent fraudulent transactions. 

Moreover, GeoComply extends its vigilance to combat subscription fraud, ensuring the legitimacy of account setups and guarding against the creation of fraudulent accounts with stolen or synthetic identities.  

This comprehensive monitoring ensures transactions are legitimate and significantly reduces the risk of fraud, providing a safer environment for both businesses and consumers.

GeoComply leverages GCI to combat abusive chargeback and chargeback fraud effectively. By analyzing a user’s historical data, GCI automates the process to better manage friendly fraud attempts leading to illegitimate disputes, enabling you to win more chargebacks successfully without the operational burden of long and complex investigations.

This approach provides compelling evidence to support disputes, increasing your chances of winning against fraudulent chargeback claims and safeguarding your revenue. 

Geocomply’s advanced compliance-grade geolocation and device fingerprinting allow you to ensure you accurately identify and block attempted transactions and Account openings coming from OFAC-sanctioned jurisdiction

Compliance-grade geolocation significantly enhances your anti-fraud strategies by pinpointing the actual location of a transaction, irrespective of the user’s stated identity or the device they’re using. 

This accuracy is crucial, not just for verifying the geographical consistency of transactions to mitigate chargebacks but also for piercing through attempts to obscure true locations. 

It effectively counters the use of VPNs, the TOR network, or any hardware and software methods designed to spoof locations. This precision adds a robust layer to your fraud prevention measures, ensuring that transactions are authentic and secure, and provides accurate, trustworthy information for investigations, even when individuals attempt to hide their real whereabouts.

Implementing GeoComply’s technology is remarkably straightforward and efficient, with the potential to go live in just a few days. This swift integration process ensures minimal disruption to your operations, allowing you to enhance your anti-fraud capabilities quickly and seamlessly.

No, you won’t need to look for another provider for device fingerprinting. GeoComply offers its own proprietary device fingerprinting technology, fully integrated into our suite of anti-fraud solutions. This ensures a seamless and comprehensive approach to fraud prevention within a single platform.

Moving to GeoComply not only upgrades your IP risk checks but revolutionizes your fraud defense mechanism. Unlike basic IP checks, GeoComply’s advanced solution leverages proprietary technology that is continuously refined and updated on an hourly basis by a specialized research team. 

By choosing GeoComply, you’re not just enhancing your security – you’re investing in a comprehensive fraud prevention strategy backed by dedicated support and cutting-edge technology, giving you a significant edge in the fight against digital fraud.

Caring about the quality of your IP Risk checks is crucial because VPN providers and fraudsters are constantly developing new methods to bypass traditional security measures. High-quality IP Risk checks that are updated frequently and designed to be adaptable can protect against these evolving threats.

Relying on outdated or inflexible solutions leaves your organization vulnerable to increasingly sophisticated fraud techniques and obscure tools used by fraudsters, highlighting the importance of investing in robust and dynamic IP Risk management solutions.

GeoComply equips your team with unparalleled fraud prevention expertise, thanks to our dedicated in-house experts engaged in ongoing research. This team collaborates closely with regulators and law enforcement to stay at the forefront of fraud prevention strategies.

Moreover, GeoComply extends beyond just providing tools; we actively assist with investigations and offer tailored support, ensuring your organization is both protected against current threats and prepared for emerging challenges in the dynamic landscape of digital fraud.

GeoComply offers a complete and flexible solution that removes the burden of negotiating with multiple vendors. Through a single point of integration, organizations can meet their KYC obligations and design a flow that meets their needs. From Data Validation against trusted data sourced, to ID Validation and biometric selfie checks and out-of-wallet questions, we streamline the process while providing the best possible pass rates for legitimate users. 

Furthermore, layering our eKYC technology with our advanced geolocation and device fingerprinting allows you to prevent and detect fraud like never before. Knowing where a new account is being opened from, and with which device, will give fraud teams the information they need to detect potential identity theft and synthetic identities being used against your organization.

Fraud is a fraud! Whether you call it Bonus Abuse, Subscription, or Hardware Theft, to name a few examples, it`s still ‘identity theft’. The vast expertise we have developed in the iGaming space can be translated into various other industries struggling with Identity Theft. The marketwide intelligence we built can be leveraged, providing day-1 value to customers in the financial sector, telecom, etc.