Learn how you can combat online fraud with the help of geo-targeting.
Many Internet marketers have already adopted the approach of geo-targeting. It has the capacity to seek out specific audiences as well as focus their campaigns on selected consumers. Statistics say geo-targeted advertisements have 30 to 40 percent advantage over the non-targeted ad placements. Some data firms in the US even projected a growth of 800 percent of online advertising partly because of geo-targeting before the year ends. There are also other qualities that this technique offers such as the detection of web-based fraud.
Discovery of Online Scams
Many online sellers and payment processing facilities make use of geo-targeting to uncover online fraud. For instance, they can detect credit card rackets by comparing location of users with the account billing or shipping address. The geo-location of an Internet Protocol (IP) Address is also a tool in detection of online fraud by matching the postal and area codes of the billing address.
On the other hand, banking institutions can thwart illegal activities such as security infringement, “phishing” attacks and money laundering by finding out locations of users during verification procedures. For their part, government agencies, law enforcers and corporate security personnel utilize geo-location in the conduct of investigations and tracking down web routes of Internet scammers to prevent attacks in the future from the same locations.
Geo-Location & Online Fraud Prevention
Geo-Location is one way of determining physical locations of users by pinpointing the mobile device’s IP address hooked up to the web or the Global Positioning System (GPS) fitted in the gadget. The information helps in validation of any credit card or personal transaction’s authenticity. Rigid integration between credit cards and mobile devices enable financial service companies to identify the exact location of users and compute the distance between the place where the actual order was made and corresponding billing address.
Meanwhile, real-time validation permits banks and vendors to use geo-location data to caution consumers and preclude online fraud. It can foil scam artists wanting to misuse bank information along with other personal details because this technology can confirm location of users by way of GPS-enabled mobile devices together with location of transactions. Geo-location technology can ensure ways to verify transactions. However, it is still imperative to implement strict privacy policies and governance programs to guarantee privacy and protection of users’ information and stay in compliance with industry parameters.
Location-as-a-Service and Internet Protocol
This is also widely used by financial service providers in preventing online fraud and verification of transactions. Yet, vendors who offer such solution need a wide-ranging system of carriers that can give access to a dependable location database. Likewise, Internet Protocol targeting detects the location linked to any IP address. This facilitates targeting wherein users can access the web at the level of the Internet Service provider or ISP. It is currently the most flexible method of targeting and also serves as the ever-present geo-targeting process for Internet ads, applications and websites. This has become effective in obtaining reliable data promptly.