fraud detection

A global provider of ecommerce and payment processing services First Data announced the launch of its eCommerce fraud detection and prevention solution Fraud FlexDetectSM, built in collaboration with Accertify.

Visa continues its course of strengthening fraud detection through investments in modelling software. The global payments network states that now it is detecting over twice as much fraud on the riskiest transactions using the new systems. Besides, it can also detect more than three times the amount of fraudulent cross-border fraud than was previously identified.

Visa has implemented a number of alterations to update its global processing platform, called VisaNet, developing new fraud models that enhance the speed and accuracy with which Visa detects attempted payment card fraud.

It was announced that shareholders of electronic payment processor a Mountain View –based CyberSource have approved the acquisition of the company by San Francisco-based Visa for $2 billion. The deal was announced in April, when Visa agreed to pay $26 per share for CyberSource. The purchase is expected to be completed today, on July 21. 

It is expected that fraud prevention technology of CyberSource will help Visa to boost the online use of credit, debit and prepaid cards that bear its name.

 Fiserv announced the availability of the newest version of its multi-channel fraud detection and management solution, Fraud Risk Manager 4.6. The company is also proud to present the market-leading anti-money laundering solution, AML Manager 4.6.

Fiserv not only shared functionality, it also increased efficiencies via potential utilization of common resources and reduced maintenance and hardware costs with its new solutions.