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American Express and Early Warning Join Forces
to Reduce Fraud

While American Express^® Travelers and Gift Cheques have earned a reputation as being among the safest and most trusted forms of exchange, counterfeit and altered checks remain a problem for financial services organizations (FSOs).

Just this month a Texas man was arrested and charged with fraud and smuggling after authorities found more than $750,000 in phony travelers checks in his possession. Federal investigators allege the man may be connected to an international fraud ring with ties in Nigeria.¹

FSOs currently protect themselves from Travelers and Gift Cheque fraud by contacting American Express directly or inquiring online. But now Early Warning and American Express have joined forces to further streamline and automate the process.

Later this year Early Warning will add a new feature to its real-time deposit and payment fraud prevention services. The enhancement will provide authorization codes and responses for U.S.-denominated American Express Travelers and Gift Cheques. This will help FSOs to determine in real-time whether the items should be accepted, declined or referred to American Express for additional information. 

Watch for this additional feature to become available in the fourth quarter of 2010.

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