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Fraud Management System:
Fraud Management System has been certified as VISA compliant by CEMEA Fraud Control unit of VISA International. more

Fraud Management System (FMS) helps put into place a variety of tools, which help in the early identification of Fraud Signals/ alerts. These signals are exceptions to the normal pattern of usage or business behavior. Different exceptions depending on various card operational aspects are analyzed in totality to identify genuine frauds.

The objective of Fraud Management System is to automate the processing of Fraud Control Unit including fraud detection, raising alerts based on pre-defined rules, so as to minimize the impact of fraudulent transactions made on the cards issued by the bank.

Fraud Management System, a Fraud Control and Management Software, focuses on pre-emptive fraud control. The software aims at analyzing transactional data and other relevant information and provides pointers to potential fraud in the Retail, Cash and Mail Order/Telephone Order environment. The system caters to both the issuing and acquiring frauds for credit cards. The application is based on monitoring the behavioral pattern of the card user based on various monetary and non-monetary parameters that are related to the card operations and usage.

A fraud can happen broadly at two stages namely Pre-acquisition of the card (Dedupe catches, fudged documents, negative verification) and Post acquisition of the card. The scope of Fraud Management System is of a fraud detection model catering to post-acquisition frauds. The following are the key features of the system:

•  Predictive model for early detection of fraud.

•  In-built Data Mart to capture data from Host Systems

•  Transaction based fraud detection.

•  Rule engine for dynamic trigger definition.

•  Powerful trigger definition module allows the user to capture any kind of fraudulent activity.

•  Fraud Decision Screen providing snapshot views of all the card level and account level details in case of issuing and merchant level in case of acquiring.

•  Powerful Confirmed Common Point of Purchase module catering to the issuing side of the business.

•  Maker checker concept for enhanced security.

•  A case made for any account at a particular time is called a prospect in the system. Enquiry module provides the user with the facility to access information for any prospect (open or closed) at any point of time.

•  Strong MIS module providing various reports facilitating quality decision making by the management.