Kount announced its most recent patent to be granted that emphasize its ground breaking efforts in online fraud detection and prevention. US Patent #20110218877 for “Detecting Online Fraud by Proxy Piercing to Identify Address of a User Device Involved in an Online Transaction” strengthens Kount’s already extensive patent portfolio, covering numerous aspects of its comprehensive online fraud platform.
“This patent reflects Kount's continued efforts to develop technology that protect businesses from the impact of fraudulent transactions online,” said Kount CEO, Brad Wiskirchen. “Our dedication to helping our client boost sales and beat fraud is reflected in a solution that continues to evolve at the speed of fraud. Our patents, including this latest one on proxy piercing, indicate the strength of our solution and Kount’s role as the leader in fighting fraud.”
Fraudsters often use a proxy to mask their identity and appear as if the stolen credit card information they use online is being used legitimately. The technology defined in this patent has the ability to pierce through these proxies to detect the actual IP address of the user, not a false IP masked through a proxy. This helps to flag the transaction as suspect and ensure fraudulent transactions are not approved, saving both merchant and customer time, money, and hassle.
As an increasing number of devices allow consumers to make purchases online, the patent encompasses nearly every device that accesses the internet including computers, mobile devices, gaming systems, web appliances, and even televisions.
With this allowance, Kount now tallies 5 patents granted in 2013 and the 28th in the company’s history. All are related to detection and prevention of online fraud.