If you run an online business, such as an e-commerce marketplace, online dating site, or social media platform, then one of the biggest challenges you might have been facing is cyber fraud. Online criminals have now become so smart that they can open and access fake accounts with just a few clicks and utilise these profiles for fraudulent activities.
Fortunately, with technological innovation and transformations, you can implement online identity verification and authentication on your users to recognise their real identities and prevent online fraud. Thus, one of these technologies to verify user ID is device fingerprinting.
However, customer identification is all about gathering customer information with the user’s consent. This information may include the individual’s social security number, passport, or driving licence. Other than this, it may also need some financial details such as sources of income to detect fraud. A fingerprint device is such a tool that captures all this information within seconds.
What is Device Fingerprinting?
Device fingerprinting is used to identify and monitor devices over the internet, explicitly mobile devices and PCs, and gathers information about the device. It works by creating unique fingerprint-based information to determine when the device connects to the internet, its IP address, and other data.
Typically, businesses use fingerprint devices for numerous objectives such as keeping track of target audiences, enhancing their website security and monitoring fraud. Some of these devices use very convenient fingerprinting techniques that only collect some specific data. Yet, some are pretty complicated to operate and gather more information than required.
A fingerprint device is an effective tool that helps identify and prevent frauds such as anti money laundering since it allows financial firms and other businesses to understand if a single device is connected with multiple accounts and if a device is involved in some suspicious activity. It also enables companies to determine if someone is trying to log in to a device into multiple accounts, and so on.
Nevertheless, device fingerprinting helps businesses get the following information about the device’s hardware and software:
- Battery information
- Browser or VPN information
- Flash data
- HTTP request headers
- Installed plugins or fonts
- IP address
- Language settings
- Operating system
- Screen resolution
- Time zone
Yet, it is crucial to remember that each of these data elements can itself serve as fraud signal. However, when all this information combines, it creates unique data that is adequate to identify a user’s device.
How Does Device Fingerprint Work?
Whenever a person visits a website and opens a connection between the device and your business. Once the connection is made, the fingerprint identify device starts adhering information about the user’s device and browser. This information is continuously collected as long as the connection is made.
Usually, device fingerprinting takes place automatically in the device background when the individual interacts with your business via the website. However, the most important interactions amongst them is when a user opens a new account, an existing user logs into the account, or a high-risk activity is going on. Once the browser fingerprint device collects this data, it is combined further to create a unique fingerprint.
Benefits of Device Fingerprinting to Businesses
Device fingerprinting is useful for businesses in numerous ways. However, its benefits vary depending on how it is implemented and used. Some potential benefits of fingerprint devices include:
Detecting and Preventing Fraud
Device fingerprinting can aid corporations to prevent fraud by recognising the suspicious behavioural patterns of an individual. For instance, identifying multiple accounts created from a single device is one of the red flags of cybercrime. Moreover, attempting to make a purchase from a stolen debit or credit card can also be identified as fraud.
In addition, fingerprint devices can be helpful for businesses in identifying the needs and preferences of the target audience based on their behaviour and browsing history. It helps firms to offer their customers more enhanced products or services. Ultimately it would boost the efficiency of their marketing campaigns with increased conversion rates.
Since device fingerprinting allows your businesses to analyse any fraudulent or anonymous activity to prevent it from cyberattacks. It means that it helps in preventing illegal information access to sensitive information and safeguards your business from potential loss.
Utilising device fingerprinting tools or technology is significant for almost every business, especially those that deal with an online marketplace such as sports betting, e-commerce platform, online gambling, dating apps and website, etc. The purpose of fingerprint device identity is to simplify customer monitoring procedures and reduce online fraud. Thus, device fingerprinting must be used as a crucial part of multiple features to maximise marketing effectiveness and minimise business threats and risks.
Frequently Asked Questions
Well, the accuracy of device fingerprinting depends on the purposes it is used for and the gathered information. Usually, fingerprinting devices are considered pretty accurate when it comes to collecting a large amount of data about user devices. However, it is worthnoting that just like other technologies, this tool also has some limitations. Some fraudulent individuals may be able to change the device information to prevent tracking.
Fingerprinting devices can work with applications. Fortunately, app developers can gather user’s device information such as type of the device, browser, operating system, and unique attributes to create fingerprints of the device, which can be further used to monitor and identify devices across different sites and applications.
Device fingerprinting is a tool that is specifically designed to identify and prevent fraudulent activities over the internet. Yet, it is unlikely to be useful on its own. It helps you recognise suspicious activities on a device by identifying user behaviour and patterns of using a device. However, if fingerprinting devices are combined with other fraud prevention measures, it tends to become more useful in keeping track of user behaviour, transaction, and other authentication measures to provide an extensive strategy to fight against fraud.