Fraud & Risk Management
As quickly as you can generate revenue, it can be eaten up by fraud or poorly performing risk management strategies. First Data’s risk and fraud management solutions have been designed to address your key needs—from accurately scoring and placing your new accounts to controlling and adjusting to today’s evolving fraud trends.
Take a look at the section below to learn more about the key fraud issues facing most financial institutions today as well as the fraud management techniques you can use to combat them.
Mitigating Leading Fraud Trends
Counterfeit
Counterfeit fraud occurs when a perpetrator encodes account information onto phony plastics and subsequently uses those counterfeit plastics for card present transactions. Click here to learn how you can combat counterfeit fraud.
Account Takeover
Account takeover fraud occurs when a perpetrator assumes the identity of the cardholder and uses his or her account for fraudulent purposes. Click here to learn more about account takeover and how to combat fraud.
Fraudulent Applications
New account application fraud occurs when perpetrators use compromised personal information to fraudulently obtain credit card accounts in the victim’s name and social security number. Click here to learn how you can combat application fraud.
Card-in-Possession
Card-in-possession fraud occurs when a perpetrator uses compromised or newly generated cardholder account numbers to fraudulently obtain goods and services using the Internet or placing mail or telephone orders. Click here to learn how you can combat card-in-possession fraud.
Non-Receipt of Issuance (NRI)
Non-receipt of issuance (NRI) fraud, sometimes referred to as mail intercept fraud, occurs when a perpetrator steals credit cards from the mail stream, prior to delivery to the consumer and subsequently purchases goods and services or obtains cash. Click here to learn how you can combat NRI fraud.
Lost/Stolen
Lost/stolen fraud occurs when a perpetrator gains access to a credit card through loss or theft, and subsequently purchases goods and services or obtains cash prior to a consumer notifying their financial institution. Click here to learn how you can combat lost/stolen fraud.
