Tagged: credit card fraud

Brain Map New-Lower

Are banks using customers’ ‘Situational Intelligence’ for effective real-time fraud protection?

How can you make your bank’s customers control transactions on their accounts and use it as an effective fraud protection mechanism? Customer communication and preferences can be vital in detecting fraud early and costs far less. Consider the following scenarios: A customer is going on vacation to Switzerland for 2 weeks and he wants all the card transactions (debit card and credit card) originating from home country...

Unauthorized Payments

Fraud-proofing Credit Cards Intelligently

While credit cards have transformed purchase transactions, it has not been without simultaneously growing vulnerabilities. Financial fraud losses across payment cards, remote banking and cheques totalled £755 million in 2015 – a 26% jump when compared to 2014 says Financial Fraud Action UK. It says that the rise across all fraud loss types during 2015 owes much to the growth of impersonation and deception scams, as well...

data breaches 0

5 Min Guide to Data Breaches

5 Min Guide to Data Breaches So, how far is your data protected?? Percentage of Data breaches is enormous & this fraud increases exponentially in developed countries. As there are so many types of data breaches and it is difficult to monitor all breaches in real time because of which consumers feel insecure at the time of financial transaction. We use technology to prevent information from fraud...