Name.com is the leading ICANN-accredited domain registrar and web hosting company focused on security for themselves and their customers. The company seeks to meet all domain name registration and web hosting needs while providing a quick and seamless buyer experience. Fraudsters target domain registrars like Name.com because compromised domain names are easy gateways to scam customers of banks, cloud services, e-commerce sites, social media and other websites. By stealing domain names, fraudsters can intercept the website traffic and easily spoof the website in order to steal credentials and compromise user accounts through phishing scams.
DECREASE FRAUD RATE AND ACCOUNT DELETIONS
Name.com was experiencing a 10-12 percent annual fraud rate. This challenge required a team of 2.5 full-time employees (FTE) charged with reviewing domain purchases flagged as potentially fraudulent. It also negatively impacted the company’s bottom line. In addition, Name.com’s upstream registrar partners stipulate a five-day window to discover and delete fraudulent domain purchases in order to provide a full refund and avoid penalties. Name.com sought to satisfy a commitment to its upstream registry partners that the number of account deletions would not exceed 10 percent of total domain purchases in any given month.
JOINT SOLUTION YIELDS RESULTS
To meet these challenges, Name.com implemented a risk-based, multi-layer fraud defense strategy, combining the TeleSign’s SMS & voice verification and ThreatMetrix™ Cloud-Based Fraud Prevention Platform. Name.com employs ThreatMetrix’s device authentication to screen for high-risk devices that are subsequently phone verified by TeleSign’s out-of-band (OOB) solution. The multi-layer risk-based solution dramatically reduced the time and effort required by Name.com to find fraudulent orders, enabling them to reduce illegal domain purchases by 98 percent and satisfy their commitment to their upstream registry partners.