Authentify Inc., the leader in telephone-based authentication solutions, today announced a new service called FraudChaser that protects Internet Service Providers (ISP) against fraudulent accounts created by Phishers and Spammers who submit false information.
In order to activate an account with an ISP protected by FraudChaser, online users must accept an automated phone call and complete an integrated voice/Web authentication process that requires they use their telephone and computer at the same time. FraudChaser adds less than 60 seconds to a typical online registration, yet creates a legally binding audit trail to the individual that opens an ISP account.
FraudChaser has helped one Authentify customer reduce fraud from Phishers and Spammers trying to register for services with stolen credit cards to near zero in just one month. "Since we started using Authentify's service, we have virtually eliminated credit card fraud and Spamming/Phishing activities," said Dan Ushman, the head of operations for Chicago based Mid-Phase Hosting. "Criminals are simply not willing to provide their real phone number, much less answer the phone call necessary to validate the transaction."