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The Fraud Watch System is designed to allow users to highlight and review certain activities on a daily basis that might require attention.
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| Transactions are analyzed based on the user-determined levels of acceptable transactions that have been predetermined either on an ISO level or card level. In addition to the basic levels that are pre-determined the user may also set up overrides on a card level basis that controls the triggers causing a card or transaction to be highlighted. |
A selection process is available on line to allow the user to select which types of flagged transactions need to be reviewed, which is called a “View”. The system maintains information as to the last date and last view by user.
ATM withdrawals are reviewed and flagged if the number of cash withdrawals exceeds the pre-set maximum.
POS transactions are analyzed separately based on signature types, PIN type, Pre-Auth types and returns.
Inquiries, deposits and transfers are also flagged if they exceed the pre-set levels.
ATM Distance – The distance defined in the parameters between the customer’s home address and where an ATM transaction is performed.
Additional triggers are set off when the transaction numbers and / or dollar amounts exceed the weekly, monthly, or 13 month averages for that cardholder.
Processing time can be based on a midnight-to-midnight time frame, or can be controlled by a cut-off time set up in a control file.
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There is an allowed distance for card travel that is maintained in the Bank/ISO default file. This allows a flag to be generated if the card is present on more than one transaction when the allowable distance is exceeded. The first usage is recorded and any additional usages are then checked for “card travel”. The first usage will not create a flag item. Additional usages are based on distances from the last usage based on date and time, not from the initial usage place.
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