Protecting card issuers against transaction fraud
With billions of transactions made every year, fraud and the misuse of financial systems not only threaten the profitability of financial institutions, it also undermines confidence in the security of global payment services.
A growth in certain types of fraud methods, including wiretapping and database compromise, is a clear indication that fraudsters are now perpetrating fraud on a huge scale.
Card issuers need to protect themselves against this significant source of financial loss, with the rapidly changing environment putting an increasing strain on analysts and systems.
Overview
Secana Card Protector uses the power of transactional surveillance to screen authorisations and highlight unusual behaviour and card usage.
Experian offers Secana Card Protector, which uses the power of transactional surveillance to screen authorisations and highlight unusual behaviour and card usage, such as the value, volume, type, frequency or location of transactions.
Analysts can then identify common points of purchase and linked cases to take preventative action at the source of the fraud to reduce losses.
Developed by fraud analysts, Secana Card Protector has been specifically designed for card issuers and is a complete solution for issuers and processor services with certification by VISA in Europe. It offers excellent analyst support for highly effective fraud detection, with users reporting detection of up to 86% of counterfeit fraud.
Backed by the comprehensive Secana Community package, it supports the implementation, operation and continual improvement of a highly effective transaction fraud prevention solution.