“The rate of fraud attempts on mobile orders for digital goods is four times as high as that for physical goods. Orders for gift cards, for example, are more likely to be fraudulent if they originate on a mobile device than on a desktop”. 1

With mobile predicted to be 60% of online orders by 2019, new methods of confirming identity when card-is-not-present is critical. Criminals are already finding new ways to use stolen PII and photos from popular social media websites to fake their identities.

Anonymity…Fraudsters are taking full advantage of the anonymity in the world of online purchases. Mobile biometric authentication and digital identity verifications break down the barriers of anonymity by having those fraudsters provide proof of their identity using something they don’t own – your biometric.

So, when a fraudster attempts to use data they have stolen or purchased on the dark web, you can qualify the validity of the purchase by sending them a mobile cryptographic challenge response which irrefutably confirms “they are who they say they are”.

Consider this simple example. Your card and phone have been stolen. The criminal is using it online. As they click “purchase” they receive a real-time notification requiring them to “confirm their identity using a biometric”. They attempt to confirm using a selfie (or a biometric that has been previously registered by you). The authentication fails and the fraudulent transaction is stopped before it even starts. All in under 2-3 seconds and the authentication activity is irrefutably recorded on the blockchain.

Visit AuthenticID.co for more information on confirming identities using digital devices.

1 https://cardnotpresent.com/cnp-merchants-cannot-attack-fraud-on-mobile-orders-the-same-as-desktop-orders-report/