• Financial Services
  • Consumer Deposits
  • Consumer Lending
  • Human Resources
  • Securities
• Retail Payments

The credit card industry is dealing with $1.16 billion in traditional fraud losses, according to The Nilson Report of 2008.

See Thought Leadership for more information

Consumer Lending

Credit Card Fraud Prevention

Many credit card fraud schemes are dependent on the standard industry practice of extending the open-to-buy to a customer when a remittance payment drawn on a checking account is posted. While this enhances customer service, it can also leave issuers vulnerable to a host of fraudulent schemes, such as bust-out fraud and synthetic identity fraud. Early Warning Services helps credit card issuers identify and prevent fraud at the earliest point of impact, before an open-to-buy is extended.

Early Warning solutions assists issuers with determining if:

• a remittance payment is from an account that is open and in good standing
• if the borrower is authorized to transact on the account on which a remittance payment is drawn

For more information on how Early Warning can help prevent credit card fraud, please see PAYMENT CHEK® service or contact us.