Debit Card Fraud Detection For Dummies (Custom)

Understand the essentials of detecting and preventing debit card fraudEnsure that you stay a step ahead of financial criminals with this friendly guideFinancial service industry staff know all too well how tricky combating debit card fraud can be. Packed with insider knowledge, this handy booklet reveals the increasingly sophisticated methods criminals use to commit debit card fraud, shares expert tips on how financial institutions can protect themselves and their customers through early detection methods, and introduces staff to the leading edge technologies that greatly reduce the risk of being targeted by debit card scammers.Discover how to:* Spot debit card fraud schemes* Quickly uncover common points of compromise* Improve your fraud detection efforts* Protect customers from debit card losses

Introduction 1About This Booklet 1Foolish Assumptions 1How This Booklet Is Organized 2Icons Used in This Booklet 3Part I: Understanding Debit Card Fraud 5Introducing Debit Cards 5Becoming Familiar with Debit Card Fraud 8Learning from international experience 8Seeing the potential impact for American FIs 9Part II: Figuring Out Fraudsters' Approaches 11Obtaining Your Customers' Data 11Outright theft 11Identity theft 12Elder abuse 12Data breach 12Card skimming 12Using Your Customers' Data 14Card tsunami 14Card chameleons 15Flash attacks 15Part III: Fighting Debit Card Fraud 17Taking a Layered Approach 17Educating customers 17Improving card technology 18Monitoring transactions 19Benefitting from Advanced Transaction Monitoring 19Analyzing behavior 20Finding common points of compromise 24Part IV: Ten Tips For Selecting a Monitoring System 27Take an Enterprise-wide Approach 27Look for Multi-channel Monitoring 28Buy Software That Analyzes Customer Behavior 28Opt for Advanced Transaction Monitoring with CPC Detection 29Rate Your Risk 29Find a Flexible Solution 30Manage Your Cases 30Automate Your Form Completion Process 31Kick the Tires on Technology (But Don't Forget to Look Under the Hood Too!) 31Keep It Simple 31