CardAlert Fraud Manager combines analytic software and investigative techniques to provide critical advanced warnings to identify and recommend appropriate actions at the earliest stages of counterfeit debit card and ATM deposit fraud. Prevent counterfeit debit fraud before it happens with early detection.
Financial institutions worldwide lose hundreds of millions of dollars each year to counterfeit debit card fraud. To protect themselves, leading card issuers trust CardAlert Fraud Manager to provide critical advance warnings, and to identify and recommend appropriate actions at the earliest stages of debit card counterfeit fraud and ATM deposit fraud. CardAlert Fraud Manager uses a unique approach that includes early fraud detection, common points-of-purchase (CPP).
How and why it works...
Using a patented Accelerated Detection process, CardAlert Fraud Manager analyzes daily ATM transaction volumes across a network or group of debit card issuers representing nearly 11,000 financial institutions. The analytic software quickly reviews multicard, multi-issuer usage patterns to spot fraud early, before significant losses occur. The CardAlert Fraud Manager team then works with the card issuer to validate the fraudulent transactions before researching cardholder histories to identify CPPs at an ATM or point-of-sale location where widespread skimming or other fraud is likely to have occurred. Through extensive analysis, CardAlert Fraud Manager determines the “date and time” windows of the skimming activity. The service then provides card issuers with a Counterfeit Inventory Risk Management report to identify additional cards most likely to have been compromised, and to incur future fraud losses.
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