How Fraud Protection Works
About the Impact Bank Fraud Alert Management System
Using cardholder history and transaction data the Fraud Alert Management system will analyze each transaction looking for patterns and trends that would indicate a risk or likelihood of fraud. If the transaction is reviewed and no fraud is suspected your purchase is approved. If the Fraud Management System detects a risk for fraud the purchase will be declined and a fraud alert is generated. Once a fraud alert is created the cardholder is contacted immediately to verify the transaction and determine whether the cardholder account has been compromised. Until contact can be made with the customer the debit card is “hotcarded” which temporarily blocks any transaction on the account to prevent fraudulent transactions.
The Fraud Prevention Services system is on guard for Impact Bank debit card accounts 24 hours a day, 365 days a year. If the network identifies suspicious activity indicative of potential fraud, the cardholder is contacted to verify the transaction. If the cardholder can’t be reached, a member of the fraud team evaluates the transaction and the cardholder history to determine appropriate action. For example, a temporary hold can be placed on the card to protect the cardholder until he can be reached.