Credit card fraud solution developed - Credit cards - News - Moneyfacts

News

Credit card fraud solution developed

Credit card fraud solution developed

Category: Credit cards

Updated: 26/02/2009
First Published: 26/02/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

A US company has announced the creation of technology to protect credit card customers from fraud.

JP Morgan Chase revealed that its Chase Card Services division has been awarded a patent for the solution, dubbed First Watch Intelligence.

Over 40 factors that could potentially indicate fraud have been identified and the system automatically evaluates these, allowing analysts to detect issues more easily.

"As the number of fraud cases increases in this time of economic uncertainty, the timing is ripe for this innovative patent, which is already being used to protect our customers," said Bill Mann, of Chase Card Services.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Top credit cards for Christmas spending

‘Tis (just about) the season to be jolly, but before all that festive fun begins, chances are you’ve got a bit more shopping to do. But, if you’re turning to credit to fund things, you’ll want to use cards that offer 0% interest deals on purchases.

Spooky reality of high balance transfer fees

Credit card debt is scary at any time of year. While most might assume that opting for the longest deal on offer would save them the most, our data shows some of the longest deals can actually work out to be the most expensive.

Reward credit cards that become ‘pointless’

If you regularly use cards to pay at the till, you may have considered opening a reward credit card to earn points every time you spend. However, not all of these cards are as rewarding as they may seem…
 
Close