Online fraud fighting company iovation has detected a 150% increase in fraud attempts directed at dating websites and their customers in 2011. Using its patented ReputationManager 360 solution to identify computers, mobile phones and tablets used to commit fraud, iovation found that 3.8 percent of the total transactions it processed for online dating sites in 2011 were fraudulent —more than a 150 percent increase over the 1.4 percent in 2010 and 1.5 percent in 2009. To date, iovation has stopped almost 60 million fraud attempts on dating websites.
Disclaimer, I’m an iovation partner and have have been known to drink beer with their sales and engineering team.
