Outsourced EFT fraud detection service
jhaPassPort Fraud Center, offered through a strategic partnership with ReD, minimized cardholder impact by identifying and limiting the volume of card fraud in a timely manner. This fully managed fraud service deploys state-of-the-art neural network technology and cardholder profiling to identify fraud patterns as they occur by using transaction history to determine normal and abnormal spending behavior. An intelligent scoring system then rates ongoing transactions based on risk ratings. This sophisticated solution generates alerts based on rules, models, cardholder spending habits, and logic that detect possible fraudulent activity within minutes of the transaction. jhaPassPort Fraud Center generates detailed reporting including a fraud case detail report that is emailed to banks after fraud events occur, a daily fraud analyst block report that indicates cards that are blocked because of suspicious activity, a monthly alert detail report that provides all transactions that raised alerts during the month, and an ATM exceptions report that flags missing or inconsistent CIF information.
This solution is available to banks automated by the SilverLake System®, CIF 20/20®, and Core Director® platforms.
What It Does
- Identifies potentially fraudulent transactions early in the fraud cycle.
- Creates alerts based on rules, models, cardholders’ spending habits, and logic to detect possible fraudulent activity with minutes of the transaction.
- Builds knowledge about individual cardholders by tracking a 90-day history of spending patterns.
- Calculates and assigns a score to all incoming transactions using neural network technology and rules.
- Provides complete and timely transactions, allowing fraud analysts to take appropriate action against suspect fraud.
- Disables cards when fraud is confirmed and sets cards to warm status for further investigation if cardholder is not available.
- Creates detailed case management reports for banks, including:
- Fraud case detail reports
- Fraud monthly alerts detail reports
- ATM exceptions reports
- Fraud analyst block reports
What It Does For You
- Minimizes the impact of fraud to cardholders and banks.
- Provides continual screening by experienced jhaPassPort fraud analyst, even during non-business hours.
- Offers cardholders enhanced customer service.
- Eliminates the need to hire or train internal fraud specialists