Modern screening methods allow you to comprehensively protect your business from unreliable customers. You can identify a potential fraudster in advance and take appropriate actions. Among the latest tools, fingerprinting technology has proven its effectiveness. It can help you defend yourself from financial fraud based on the information about your clients' computers or smartphones.
About Device Fingerprinting
Device fingerprinting is the process of collecting specific information about a device and the programs installed on it, the analysis of which allows you to draw certain conclusions about the users. Modern methods make it possible to evaluate not only PCs but absolutely any device. A data set includes a smartphone and laptop brand and model, operating system, browser used, and so on. It is the combination of all this info that makes this or that device unique. This technology has replaced the collection of cookies and is more advanced.
How It Works
While most companies use device fingerprinting for advertising and content personalization purposes, you can implement it to protect your business. There are active and passive methods of collecting data. The first one requires interaction with a client, while the second one means hidden actions. In any case, this entire database should be carefully guarded and used by you for its intended purpose. Failure to do so can seriously damage user anonymity and your reputation.
Algorithms analyze the received device information and respond to specific triggers. Among the many things, it is worth highlighting the use of outdated browsers or TOR, various ad-blocking utilities, language and time zone mismatches, anonymous sessions, and so on. The more a user tries to erase their online identity, the more unique their profile becomes. Of course, all of this doesn't necessarily mean that your prospect is a fraudster. However, it is a reason to conduct a deeper check if algorithms assess their behavior as suspicious.
Device fingerprinting should be used by any company that deals with customers online, especially in areas where the likelihood of fraud is higher (for example, sports betting or dating). You will be able to quickly determine whether a particular smartphone or PC has been previously noticed in some kind of fraudulent activities. Implementing such a technology in your business will help you protect yourself from a wide range of cybercrimes: account theft, credit card fraud, bot attacks, etc. So, for example, your site will not allow opening several accounts for one person at once or will not appear in the search engine results on a device whose activity was suspicious.
Keep an Eye on Your Site Visitors
While the technology of fingerprinting your customers' devices can significantly reduce fraudulent actions, it is not the only surefire method. If any of the users make changes to the information provided by their phones or laptops, it will somewhat complicate their identification. That is why it's recommended to use cross-platform fingerprints to reduce the likelihood. Device fingerprinting should be applied in conjunction with other business protection methods such as KYC and AML solutions.