MARKETWIRED - Feb 5 - In 2014, 1.37% of all transactions on online dating sites were fraudulent. In comparison, iovation says 1.24% of all transactions it monitored across all industries in 2014 were fraudulent.
Top Types of Fraud
- Scams/solicitations
- Spam
- Credit card fraud
- Profile misrepresentation
- Identity mining
The highest percentage of fraudulent transactions on online dating sites in 2014 originated from these countries:
- Nigeria (29%)
- Ghana (26%)
- Ivory Coast (15%)
- Vietnam (10%)
- Argentina (8%)
What Businesses Should Look For
Knowing the true location of scammers, and when they are hiding behind proxies or Tor, is extremely helpful. "We looked at a laptop that had visited 18 different dating sites within a month. Many of our clients had already associated the device with some kind of fraud. Since these 18 dating sites all use iovation's risk service, they understand the high risk of doing business with that device and deny the registration attempts," said Jon Karl of iovation. "When that same laptop visited our financial clients to set up money transfer accounts, they were denied as well."
