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• Reduce Your Fraud & Risk
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Fraud and Risk Management

• Fraud
  • Counterfeit
  • Account Takeover
  • Fraudulent Applications
  • Card-in-Possession
  • Non-Receipt
  • Lost/Stolen
• Risk

Combating Counterfeit Fraud

Data compromise at a major retailer has resulted in full magnetic strip data being encoded onto counterfeit cards.

Several months pass before the data compromise is identified.

In the meantime, fraudsters have used the compromised data to create counterfeit cards.

Fighting Back with First Data’s Fraud Mitigation Tools

• Once a data compromise has been identified and reported, the associations provide a list of compromised accounts to impacted financial institution card issuers through their alert services.
• Once an issuer has determined how much data was stolen and how many accounts were impacted, they can choose a variety of paths to handle the impacted accounts. Options range anywhere from reissuing cards for all the compromised accounts to utilizing fraud detection and notification tools to mitigate risk.
• For clients that choose to utilize First Data Falcon™ to mitigate their risk, they can add a fraud behavior flag to those impacted accounts so that when an authorization attempt occurs, in addition to taking into consideration the existing strategies and fraud score, they can also consider the fact that the account had been compromised when determining whether to approve or decline a transaction.
• 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 agent costs by utilizing 2Way-Connect^SM 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.
• Clients can also utilize reporting from First Track to determine the types of fraud trends occurring within their portfolios and then go back into First Data Falcon to make strategy changes based on those reports.
• Clients can also choose to utilize the data-querying capabilities within DataChoice™ to analyze risk-related data elements from the First Data system, including information from the FAD File as well as daily authorization and monetary files—helping them understand their fraud trends and continually make changes to their fraud mitigation strategies.

Click to request additional information on how First Data can help manage Fraud and mitigate Risk »