What is device profiling and why is it so important for fraud prevention?

Being able to identity and profile a customer's mobile device is a key part of any fraud strategy. Biometric authentication can be used to increase the confidence in the identity of the user of the device and 'strong binding' can be used to bind the customer and their identity to the device. By profiling multiple characteristics of a device, account providers are able to identify devices used in multiple fraud attempts across different profiles.