SAINT JOHN, NB, Sept. 20, 2024 /CNW/ – Spinzo, a leading provider of customized ticket sales solutions for sports teams, venues, and events, continues its leadership role in ticket sales fraud prevention. Trusted by some of the world’s most notable sports teams and venues, the technology keeps fraudsters out and legitimate buyers in, making for a more sustainable marketplace.

Unique Forms of Credit Card Fraud

Spinzo is keenly focused on preventing a new type of credit card fraud, one in which fraudsters get an account with a digital bank and issue dozens of credit cards under fake aliases. The purpose of this scheme is to evade ticket limits and scoop up all the ticket sales inventory. Sophisticated bad actors will also use VPNs and continuous cookie-clearing technology to evade most systems.

Spinzo addresses this by analyzing purchase trends and clustering transactions by the issuing bank of credit cards. When a digital bank’s cards are being used in high frequency, it is noted as a potential fraudster. Spinzo’s follow-the-fraudster technology can then capture all the cards used by the bad actor, in addition to other identifying factors. Spinzo also contacts digital banks directly to report these fraudsters and selectively blocks digital card types of high fraud prevalence.

Cottage Industry Brokers

Some people buy and re-sell tickets as a main gig or side hustle, but these can sometimes be classified as “fraud” in cases where they break impersonation laws while blatantly ignoring terms and conditions of ticket sales buy-flows. Spinzo has captured the identities of numerous brokers who often use dozens of aliases to purchase tickets across North America with the purpose of reselling at a higher price.

Spinzo’s follow-the-broker technology compares various elements of broker behavior, including the use of the same credit card for tickets at many different sports teams within the same day. Once discovered, Spinzo continues to allow the broker to browse and attempt purchases, all while collecting more information about the broker and their payment methods.

When banning brokers, Spinzo goes beyond email address and phone number. It leverages other identifying and clustering techniques to put an end to this behavior.

Stolen Cards

Spinzo handles stolen cards with ease, given its heavy use of 3D Secure technology, requiring cardholders to be present on a device that they would normally use. In the absence of that, two-factor authentication is used, run by the issuing bank. Interestingly, some credit card thieves evade these systems, which is why Spinzo selectively performs additional address verifications in suspicious circumstances.

$0 Invoiced for Chargebacks

Spinzo does not invoice sports teams or venues for chargebacks, whether tagged as “fraudulent”, “product not received”, or “product unacceptable”. This puts Spinzo in a whole new league when it comes to sanctity of ticket fund flows.

Spinzo remains committed to driving innovation in the ticketing industry, particularly in the area of fraud prevention.

About Spinzo
Spinzo provides creative ticket sales solutions that are trusted by the world’s most prominent sports teams, venues, and events. The promotional sales platform powers group ticketing, theme nights, community engagements, ticket distribution, fundraisers, and flex plans. It is heavily relied upon by sales, marketing, and operations departments in the live events industry. Spinzo also provides strategic growth consulting, assists in revenue-driving activities, and manages the industry-popular Ticket Playbook community with regular learning sessions. For more information, visit spinzo.com.

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SOURCE Spinzo Corporation

LOS ANGELES, Sept. 20, 2024 /PRNewswire/ — On September 18-19, 2024, Mr. Nanthapol Sudbanthad, Director of Thailand Board of Investment New York Office, accompanied by a delegation from the Royal Thai Consulate-General in Chicago, led by Consul-General Mrs. Katanawadee Kalayanamit, visited the state of Iowa, which is one of the states with the highest proportion of renewable energy use, with more than 59 percent of the state’s total energy production coming from renewable energy sources, including wind and solar power.

The delegation was warmly welcomed by the Ankeny Chamber of Commerce and the Greater Des Moines Partnership, and had the opportunity to meet with the state’s leading power generation companies, who demonstrated their success in using renewable energy, especially wind power, to generate electricity, which is in line with the measures to promote investment in clean energy, which is part of the BOI’s Go Green Investment policy.

The Board of Investment (BOI) has outlined a strategic investment promotion plan for the next 4 years (2024-2027), focusing on promoting 7 strategic industries to push Thailand towards a new economy, including 1. BCG (Bio-Circular-Green) 2. Electric Vehicle 3. Advanced Electronics 4. Digital & Creative 5. International Business Center 6. Semiconductors and 7. Batteries & Energy Storage Systems

In terms of “Go Green” Investment, BOI focuses on promoting investment to meet the needs of creating a green industry that is environmentally friendly in order to reduce carbon emissions. In the past 5 years (2019-2023), BOI has promoted investment in the BCG industry group for 2,675 projects, with a total investment of more than 15 billion US dollars, of which 1,776 projects were clean energy production projects, with a total investment value of approximately 5.3 billion US dollars. There have also been measures to upgrade manufacturing by providing incentives to entrepreneurs in switching to clean energy for 1,139 projects, with a total investment value of more than 1.8 billion US dollars.

Mr. Sudbanthad acknowledged the Iowa’s policies on promoting renewable energy and its production capacity to be doubled for the next 10 years. Similarly, Thailand is targeted as one of the top clean energy producers in the region. One of the key factors that will affect investment direction is the goal of carbon neutrality and net zero greenhouse gas emissions.

In addition, the delegation visited other leading companies based in Ankeny, IA, including PowerPollen, Bayer, Kreg Tool, and also had an opportunity to meet with the Thai community in Greater Des Moines area.

ABOUT THAILAND BOARD OF INVESTMENT

Thailand Board of Investment (BOI) is a government agency under the Office of the Prime Minister. Our roles and responsibilities are promoting and facilitating foreign direct investment (FDI) into Thailand. We are the professional contact point for companies, providing them with useful investment information, business support, and investment incentives including tax and non-tax incentives.

BOI, New York office’s area of responsibility includes the East Coast U.S. and Canada.

BOI, Los Angeles office’s area of responsibility includes the West Coast U.S. and Mexico.

Our services are free of charge and customized to help foreign businesses succeed in Thailand.

For more information, please visit www.boi.go.th

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SOURCE Thailand Board of Investment

PROVIDENCE, R.I., Sept. 20, 2024 /PRNewswire/ — HavocAI Inc., a leading innovator in autonomous uncrewed surface vessel technology, is excited to announce the successful closing of an $11 million Seed round of funding. The round was led by Scout Ventures, co-led by Trousdale Ventures, and saw additional participation from Outlander VC, The Veteran Fund, BV.VC, Decisive Point, Alumni Ventures, and New North Ventures. This strategic investment will fuel HavocAI’s mission to enable ultra low-cost autonomous surface vessels to operate at an unprecedented scale across both defense and commercial markets.

“We are thrilled to have such a distinguished group of investors who deeply understand our vision and are committed to supporting us on this journey,” said Paul Lwin, CEO of HavocAI. “This capital allows us to scale our production capabilities and grow our team to meet the increasing demand from both our existing and new customers.”

HavocAI is pioneering the technology needed to allow a single operator to command and control thousands of unmanned assets. The company’s innovative platform is designed to provide significant cost efficiencies, operational reliability, and scalable solutions for a wide range of applications, from defense missions to commercial ventures.

This latest funding will enable HavocAI to expand its production capacity, enhance product development, and accelerate customer acquisition, ensuring that the company remains at the forefront of autonomous uncrewed vessel technology.

“We’re excited to support HavocAI as they continue to push the boundaries of what’s possible in USV technology,” said Brad Harrison, Managing Partner, at Scout Ventures. “Their technology has the potential to dramatically transform the industry, and we look forward to seeing the impact they’ll make.”

For more information on HavocAI and its groundbreaking technology, visit Havocai.com.

About HavocAI: HavocAI develops ultra low-cost uncrewed surface vessels and software that enable a single operator to command and control thousands of unmanned assets, providing scalable and efficient solutions for both defense and commercial markets.

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SOURCE HavocAI