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Fraud Prevention
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TransFund offers many layers of fraud prevention and protection to help you maintain
the profitability of your card program and protect cardholders and your financial
institution. These options include:
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Neural Network Monitoring with FraudWatch Plus
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FraudWatch Plus is a 24x7x365 fraud monitoring program that combines the most sophisticated
fraud detection technology with experienced fraud analysts. It employs neural fraud
modeling technology to flag suspicious or high-risk transactions. The program scores
each transaction based on weighted variables and business rules conducive to detecting
fraud. An alert is generated when an authorization matches the definition of a rule-based
strategy. The cardholder is then contacted by the financial institution or the Fraud
Team to determine the next steps for prevention.
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Verified By Visa
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Verified by Visa helps make cardholders more comfortable buying online by enhancing
the security and integrity of Internet purchasing. TransFund makes it easy for financial
institutions to participate in Verified by Visa with our simple startup options
that require minimal resources.
Cardholders simply add a personal password to their existing consumer Visa check
card account and use it when shopping online at Verified by Visa merchants. The
password acts much like an ATM card PIN that enables the Issuer to verify the cardholder's
account ownership during an online purchase.
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Card Activation
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To prevent mail theft and possible misuse, financial institutions may require cardholders
to activate their debit card before use. Several secure methods are available, including:
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Voice-response system.
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Activation at the ATM or Point of Sale using a secure PIN.
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Financial institution activation using web-based TransFund card management software.
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Lost/Stolen Card Hotline
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After regular business hours, TransFund will accept lost/stolen reporting from cardholders
by phone. The card will be hot-carded and the financial institution client will
be notified the next business day. This is an optional service.
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Fraud/Risk Reports
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TransFund generates detailed and customizable daily reports that can help you identify
fraudulent transactions.
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Expiration Date Checking
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TransFund requires the expiration date contained in the authorization request exactly
match the expiration date on file.
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TransFund employs all of the security measures mandated by Visa, including:
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CVV/CVC
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Matches the three-digit security code embedded on the magnetic stripe of a debit
card to assist with verifying the authenticity of the card during transactions.
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CVV2/CVC2
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Matches the three-digit code printed on the signature panel of the card with the
CVV2/CVC2 value on file for card-not-present transactions.
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