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Fraud MonitoringThe introduction of EMV standard has addressed a number of key fraud-prone areas. However, electronic payment fraud is still increasing as fraudsters move on to other less protected aspects of payment systems. Moreover, criminals are always likely to derive new ways of disrupting the business and thus, responsive and “futureproof” fraud monitoring and management solution is a must-have.

Compass Plus offers a complete versatile fraud monitoring and risk management solution. Comprised of several modules and subsystems, it is one of the most comprehensive protections against fraudulent undertakings.

TranzWare Fraud Analyzer provides a wide set of tools for an automatic detection of fraudulent actions in an online and/or quasi-online modes based on customer-predetermined rules. The analysis can be performed based on issuers' as well as acquirers' transaction data, for On-Us and Not-On-Us transactions, clearing data presented by payment networks and can cover the entire transaction life-cycle. The system of alerts informs investigators as soon as suspicious activity is detected, however, Fraud Analyzer can be configured to instantly reject certain transactions based on the predetermined parameters. Fraud Analyzer has been successfully certified by Visa for compliance with its strict Acquirer and Issuer Monitoring Standards in CEMEA region. Visa CEMEA includes the system on the list of approved solutions for its members. Fraud Analyzer has a complete set of mandatory rules and reports for implementing Visa as well as MasterCard fraud monitoring standards.

TranzWare Online Algorithmix allows financial institutions to create specificsimpler rules that influence business logic of the payment processing system. Online check can be performed based on the described business rules thus, detecting fraud and taking specific actions, for example, declining suspicious transactions or decreasing a credit limit depending on certain factors (e.g. type of merchant, number of transactions made during a given day, etc).

TranzWare Online boast an extensive limit system to pre-empt fraudulent activities on issuers’ and acquirers’ side. These limits include: number of incorrectly entered PINs (passwords, secret words, etc), cash withdrawal limits (on different cards, accounts, currencies, etc) per given time period, cumulative, consecutive and single transaction amount limits (per card, merchant, etc), limits on a total amount spent in a given time period, number of transactions (made with a card or at a specific terminal) in a given time period, number of transactions at a single terminal, various time limits for completing certain actions/transactions, credit, overdraft and deposit limits, offline transaction limit, etc.

All the limits can be set at any time, in any currency and on all kind of basis, for example per-customer, card type, currency, merchant type, etc; limits can be changed easily at any time, and can have their own period of validity assigned at the time when a limit is set.

Additionally, features such as user and session monitoring and auditing as well as access right control are embedded into all TranzWare modules for enhanced security within an organisation.

As all the modules in Fraud Monitoring solution are highly customisable, each organisation can configure it to best meet its business and market needs. This proven solution is capable of addressing a variety of risk management requirements, thus, providing for a comprehensive protection against fraud.

For further information please download the brochure or contact us.

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