Online Fraud Prevention Services is an automated monitoring and prevention tool designed to protect banks from exposure to fraudulent transactions. With banks operating in a dynamic and challenging risk environment, it employs rules-based technologies to make real-time decisions.
In operation, Online Fraud Prevention Services will automatically analyse card transactions before they are completed. Then, should the risk rules be violated, the service will automatically decline the transaction. Future transactions will continue to be declined until the restriction is manually removed.
Service installation is performed by EMP, who provides default conditional algorithms covering most fraud cases. Banks can also instruct EMP to implement additional algorithms and to change parameters in line with their needs.
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