Card fraud

Financial Crime 4 марта 2015, 17:19

Detecting compromised cards to prevent fraud losses.

The volume of card payments continue to grow in both established and emerging markets. The card payments business faces increasing competition from newer entrants in the market, including mobile money and web-based payments.
In response, the industry continues to innovate new products promoting the use of the plastic card as the most convenient method of accessing a wide array of payment services. New card types, more unattended terminal and increased card-not-present usage all pose new risks for issuers and acquirers. Fraudsters exploit change and the new card payment technologies present many opportunities for new fraud typologies.
Our NetReveal® card fraud solution provides issuing and acquiring solutions for detection and prevention of card fraud in real-time. These provide a broad range of user-configurable detection analytics, queue-based alert triage and the industry’s leading case management application.

The NetReveal solution for combating card fraud provides:

– Multi-entity behavioural profiling at the card, account, customer, terminal and merchant level. Complex patterns of cross reference profiling, combined with predictive, calculated variables, significantly reduce false positive rates and provide a high level of early anomaly detection;
– High volume, real-time decisioning across all card transactions which aims to prevent fraud losses while allowing a financial institution’s customers to execute legitimate transactions, thus balancing business fraud risk and customer experience;
– Automated, queue-based allocation of alerts to analysts, with a full workflow capability to streamline the activities of the fraud operations team;

– A full case management application, with the tools to manage and record operational losses due to fraud;

– An integrated reporting module providing accurate, relevant fraud metrics and activity dashboards for all levels of management;

– A simulation environment that allows fraud analysts to quickly evaluate a new detection approach against historic data before placing it into production, so ensuring alert volumes are within accepted levels.