Ghana beats Nigeria to top online fraud transactions list worldwide
Device Reputation Authority, iovation, which protects online businesses from fraud and abuse has announced January 31, 2012 that transactions originating from Ghana are most likely to correlate to fraud.
The transactions are said to be in online financial services, retail, gaming, social communities among others.
This was after the US-based company released its key findings on online fraud for the year 2011.
According to the findings on the source of online fraud during 2011, Ghana was first on the top five countries globally, followed by Nigeria, the Philippines, China and Israel.
“Although Ghana topped our list, online fraud is a global problem,” said founder and CEO of iovation, Greg Pierson in a statement.
“We see proof everyday that cyber fraud knows no boundaries—crossing borders, devices and industries at will which makes it all the more important to share data and about truly global device activity,” Pierson added.
Overall, the company said it stopped 50 million fraud attempts in 2011, and is at a “current pace of 150,000 fraudulent transactions” per day.
According to iovation, it also detected a 400% increase in fraud via mobile devices last year. Although these devices represent only 4% of the overall fraud total, this dramatic increase mirrors general growth trends for mobile usage, and indicates that recognizing and stopping fraud will only become more challenging, the company added.
But the company says it has been able to track some of these fraud attempts with the help of more than 2,000 fraud analysts report as well as the sharing of fraud experiences through it’s database of internet devices and relationships.
“iovation identified these fraud attempts using its patented ReputationManager 360 solution, which tracks more than 800 million devices across a broad range of industries and has protected more than 6.5 billion total online transactions to date,” it said.
By Ekow Quandzie
so we make our borders free n those guys come in to continue and teach such biz here too…i know its definitely them same guys..look at nigerians invadin us of late..changin positions teachin nations..seems to be their mission now…easy money getta we got no choice than follw the trail..og God help us save this carnage on our dear land..
Yes, God help us! Left to me alone, all Nigerians should be sent away from Ghana because of their crook-ish ways.
Well if you are weak enough to allow people not considered anything in any country to just migragrate and do whatever they want then, expect worse!! When you have people with no pride ruling what do you expect! A country that cannot stop criminal 419 men from entering or criminal Fulani and others. Pretty soon these people will be the majority and kill the real Ghanaians off!! This has been the history of all West African countries.
You are all miopic in your reasoning … passing blames from pillar to post. Rather than find the root cause of th trend here, you believe in falacies and idiosyncrasies. The fact remain that all countries have criminals and all countries will …. even the so called developed countries and companies. Why don’t you ask yourselves where these activities started from and ended …. remeber the white man taught us everything we know namely education, religion, democracy, economics, etc. The article above is a joke !! Anyone can say they stopped 3 Billion fraud transaction (out of how many in 2011). YOu think one company can be so interested in the case as to track 50 million cases. What is their take in it ….. It takes a thief to catch a thief.
Lies … just lies.
I LOVE EVERY BIT OF NIGERIANS ACTIVITIES IN GHANA BECAUSE THEY MAKE IT LIVELY FOR US AND CREATE FUN EVEN CHANGE SOME OF OUR LIVES! YOU ARE ALSO INTO IT WITH THEM AND YOU USE OUR GOLD AND OTHER NATURAL RESOURCES AS WELL AS OUR GOVERNMENT OFFICES TO CARRY OUT MOST OF THIS JOBS NOW YOU ARE CALLING THE SMART NIGERIANS WHO DO BETTER THAN YOU WITHOUT DOUBT!! KEEP QUIT KOFI, GEOGE, OLU SONNY AND OTHERS!!
We should all be awakened and to pass blames, let stand for the change and kick against all this bad tomato that wants to spoil thousands of other tomatoes
This is very unfortunate. You see why its so difficult for Africa to join the online eCommerce boom in the world. Africa has been left behind because of its fraudulent activities on the internet. Online payment platforms will continue to close their doors to Africa and that will even make the situation worse. Image a Flat world without Africa! Its sad. But online fraud is a global problem and not just an African problem
@Geoge, Who are you talking about
why ghana. Who are those creating and selling this softwares. why cant this anti fraud organizations target these people.
we kiddin. man entering a bank to withraw money sent in the name of a woman. high level politicians treatening bank managers who refuse to release money to frauders. fake pastors/fake malams performing ritutals to dummy victims. there are thousands of white guys in our first class hotels as am speaking. their main aim is to be sleeping with ghanaian women till they leave ghana. the hotel mananger is highly aware of. police commanders have tel # of first class sakawa guys that they always go for their percentage just like every bank manager will pick his percentage when every sakawa guy picks money. who is left in ghana that will stop sakawa if all the above are part of the highly lucrative industry. MIND U. trust me. about 70% of those who are not sakawa guys is simply they dont know how is done.