Portland, Ore.-based online fraud detection company iovation helped police in Kirkland, Wash., bust up a fraud ring that involved thousands of dollars in fraudulent credit card charges, the company announced.
Police used ReputationManager 360, iovation's online fraud prevention solution, to identify and track the fraudulent charges that targeted at least 15 people, the company said.
ReputationManager 360 tracks electronic devices including computers, tablets and cell phones and identifies fraudulent online activities by making associations between devices and individuals.
“This is a unique case because it wasn't exclusively an online or offline crime,” said Kirkland police Detective Adam Haas. “Offline clues helped, but the online digital bread crumbs sniffed out by iovation were critical in tying everything together, leading to a much bigger crime ring than we originally suspected.”
iovation said the case began in January 2011 when fraudulent credit card charges totaling $5,000 were reported at electronics and department stores.
Using ReputationManager 360, the credit card issuer discovered that fraudulent credit card applications for the cards used in the crime were made from one specific computer, iovation said. Then, the technology tied that same computer to more than a dozen additional victims of credit card fraud.
Using this information as well as surveillance videos, Haas identified the suspect as a male who had been stealing residential mail and using it to complete online credit card applications and create fraudulent pieces of identification.
“ReputationManager 360 was developed specifically to bust fraud rings like this,” said Jon Karl, vice president of corporate development for iovation. “This private-public partnership is an example of how sharing data through iovation helps limit losses for both businesses and consumers.”
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
