iDenfy launches new product that detects fraudulent IP addresses

iDenfy has released a new product that helps track down fraudulent online transactions.

A common way for companies to identify fraudulent activity is by analysing IP address locations. Many criminals use an anonymous IP, sometimes called a proxy, to make it look like their online activity is originating from a different computer or location, according to the official press release.

Therefore, to determine whether the IP address being used in the online transaction is legitimate, iDenfy has released Proxy Detection. The product’s algorithm analyses the internet and black market 24/7 to detect IP addresses associated with an anonymous IP or TOR network, elite proxy, socks 4/5, Virtual Private Network (VPN), hosting provider or online anonymisers.

The algorithm can then recognise if an IP address in question has signs of malicious software or was used in fraudulent activity. It can also find out when an IP address is cleared from malicious software and is no longer acting as a fraudulent IP. This is all being done in the background as a user starts their online transaction, so their user experience will not be affected by this additional layer of security.