Combating Card-in-Possession Fraud

Fraud Mitigation Products
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Fraud Communication Products
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Card In Possession

A major retailer has experienced a data compromise—providing a fraudster with access to customer account numbers, expiration dates, cardholder names, addresses and CVV2 data.

The fraudster uses this data to conduct card-not-present transactions via the mail, phone or Internet. More than anything, the fraudster wants cash, so he intends to go online and send a money transfer using the stolen account information.

Are your customers protected from card-in-possession fraud?

Fighting Back with First Data’s Fraud Mitigation Tools

  • First Data Falcon™ can be used to identify suspicious activity based on uncharacteristic spending behavior. First Data Falcon can also be used to help identify the merchant category code for Internet cash and the entry mode element can be used to determine if it’s Internet. It can also be used to set dollar thresholds, allowing lower dollar amounts to approve and higher dollar transactions to decline or refer transactions.
  • Suspicious transactions that are queued to the Fraud Detection Work Center (FDWC) can be investigated by your fraud agents, virtual analyst or First Data can manage your FDWC on your behalf. Agents can make outbound calls through the FDWC’s integration to a Predictive Dialer, or clients can choose to balance resource constraints and live analyst costs by utilizing 2Way-ConnectSM for automated calls to accountholders to verify the legitimacy of the suspicious transaction.
  • Once the transaction has been confirmed as fraudulent, and the account’s status has been updated, clients can choose to utilize FDR First Track® to manage virtually all required back-end tasks associated with fraudulent accounts, including consumer notification, association reporting and chargebacks.
  • Card-in-possession fraud may also be committed by a financial institution employee with access to credit card numbers. In this instance, Footprints® can be used to monitor their activity. You can check for patterns to determine if an employee is looking at the same accounts repeatedly (i.e., looking at CIS memos, available credit, etc.) and then investigate further to see if fraud has been committed.

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