Industries / Banking

Card Fraud

Reduce fraud, lower costs and increase customer confidence

Card fraud involves either theft of the physical card or the compromise of data associated with the account. While stolen cards may be reported quickly by cardholders, a thief can hold onto account data for weeks or months before using it fraudulently, and cardholders may not even discover the fraud until they get a billing statement. This makes identifying the source of the compromise extremely difficult. The frequent use of credit cards, along with the variety of ways that card data can be obtained and used for fraud – e.g., phishing schemes, monitoring merchant card authorizations, the use of magnetic stripe skimmers, breaking into databases – help account for the growing popularity of card fraud.

" What sets our anti-fraud strategies apart is our commitment to technology to monitor and score the millions of transactions we process every day. SAS Fraud Management is the cornerstone of these efforts."

— Derek Wylde

Head of Group Fraud Risk, Global Security and Fraud Risk, HSBC

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How SAS® Can Help 

While many existing fraud detection systems use reactive, "after the fact" analysis of questionable transactions, such an approach doesn't provide any real protection from loss. With SAS, you can:

  • Score 100 percent of transactions on demand, in real time, using customized behavior profiling rules and scoring models to assess and monitor the fraud risk associated with accounts and customers.
  • Better understand customer behavior with new modeling approaches that use the consortium method of fraud modeling and champion/challenger model support, while retaining the value and flavor of your customer data at the product, customer, relationship or household level through the use of customer state vectors.
  • Take all related activity into account when making a fraud decision with a fraud case management and investigation system that uses multientity technology to understand transactions made on different channels and behavior of related accounts.
  • Enable fraud policymakers to change and edit prioritization, blocking strategies, and alert routing and handling by using a browser-based user interface to easily configure strategies, queues and alert-workflow properties.
  • Easily generate reports using a full reporting system that lets you use any data in the system and publish reports in a variety of formats, including HTML.
  • Account for regional differences in fraud management requirements by enabling banks to control regional fraud operations completely via easy-to-use interfaces.

How SAS® Is Different 

SAS offers the only fraud detection system available that provides real-time scoring of accounts by looking at all card transactions – purchase, payment and nonmonetary. No other system on the market provides this breadth of coverage. In addition, SAS provides:

  • Customer state vectors, an advanced framework for identifying and using customer behavioral patterns in the fraud detection process, including:
    • Seamless integration of an expanding domain of new data types and sources.
    • Capture of appropriate data history based on customer behavior.
    • Support for comprehensive customer product information, multimodel deployments and champion/challenger functionality.
    • Backward compatibility for model releases and the ability to roll models back easily one generation if needed.
  • Advanced analytics, including champion/challenger capability, and new SONNA modeling techniques.
  • Real-time scoring of 100 percent of transactions so you can stop more fraud at the point of sale.

Related Products and Solutions

SAS® Fraud Management

Performing "after the fact" analysis of questionable transactions is a reactive approach to fraud detection that doesn't offer any real protection from loss. Only SAS delivers a full-service enterprisewide fraud management system that offers real-time scoring of accounts by looking at all card transactions – including purchases, payments and nonmonetary transactions. No other system on the market provides this breadth of coverage.

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SAS® Fraud Network Analysis

Fraud is a growing problem for banks and insurance companies, in large part because it is so hard to detect. That's because fraudsters act much like legitimate customers, and they employ increasingly sophisticated fraud techniques that enable them to fly well below the radar.

SAS Fraud Network Analysis helps institutions detect and prevent fraud by going beyond individual and account views to analyze all related activities and relationships at a network dimension.

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SAS® Enterprise Case Management

SAS Enterprise Case Management enforces best practices and proper gathering of evidence, and can greatly reduce the cost of investigations. The solution provides a structured environment for managing investigation workflows, attaching comments or documentation and recording financial information, such as exposures and losses. This gives investigators more power, flexibility and task automation, without having to rely on IT for support.

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