Category: Card Fraud

The use of card payments grew in 2018 yet again. As you might expect, as the volumes of card payments have risen, so have the related fraud losses. For this reason, it’s more important than ever for financial institutions to have the proper policies and procedures in place to detect and eliminate debit and credit card fraud, stay in constant communication with their customers and members, and educate them on how they can join in the fight against fraud.

In the world of plastic card fraud, the only constant is change. As payment cards continue to gain market share in the payments space, fraudsters are responding by  growing increasingly creative. These criminals will go to great lengths to steal assets from your financial institution and its cardholders. In the past couple of years, there’s been an evolution in card fraud. Here are the top 3 debit and credit card fraud trends and schemes

HIGH POINT, N.C., Jan. 17, 2019 － Advanced Fraud Solutions, a leader in fraud prevention services for financial institutions, and Q6 Cyber, a leading provider of cyber threat anti-fraud intelligence, announced that they have partnered to integrate Q6 data feeds directly into the TrueCards® fraud prevention software platform. TrueCards® is a powerful tool allowing financial … Continued

In 2016 there was $1.3 billion in debit card fraud as reported by the 2017 ABA Deposit Account Fraud Survey. That means debit card fraud accounted for 58% of all fraud types, across all channels, and in every kind of institution. The top three card fraud schemes that took center stage in 2018 have been credit and debit card chip replacement, credit and debit card skimmers and card cracking. Learn what these mean for your card portfolios and how AFS can help you fight card fraud faster.