Visa Fraud and Fraud Monitoring Kevin Walter MSU Federal Credit Union

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Visa FraudandFraud MonitoringKevin
WalterMSU Federal Credit Union
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Contents

• Visa Fraud
• Costs
• CAMS / Alerts
• RepGens
• Member Notification
• Monitoring
• Questions

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Visa Fraud

• TJX
• Total
• 45.7 million cards affected1
• Computer Hackers
• MSUFCU
• As of 5/14/07, 84 alerts
• 61,000 total card numbers
• 17,000 cards blocked (so far)
• (1) http//www.forbes.com/markets/2007/03/29/tjx-c
  ompanies-fraud-markets-equity-cx_mk_0329markets35.
  html

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Visa Fraud

• CardSystems Solutions
• Total
• Over 40 million cards1
• Hackers
• (1) http//news.com.com/MasterCardbreachhits40
  millionaccounts/2100-1029_3-5751886.html

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Costs

• Reissue Costs
• Postage
• Printer
• Card Stock
• Debit and Credit
• Card embossing
• Personnel

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Costs

• Non Reissue Costs
• FRAUD!!!

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Monitoring Services

• CAMS (Visa)
• Alerts (MasterCard)
• Download lists of your FIs card numbers

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MSUFCU

• Repgens
• Member Notification
• Case Monitoring

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RG VISA.FRAUD

• First RG
• Reads CAMS letterfile
• Card note created
• On CAMS alert, but no action taken, yet
• 01/23/2007 155p User 918
• 01/23/2007 US.2007.030FF.IC
• None

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RG VISA.FRAUD

• Statistical report created
• Card numbers
• Expiration dates
• Special notes
• No account or share / loan found
• Totals
• First-run reports are read and a decision made
• Do nothing (Note created will be only action)
• Send a letter
• Block and Reissue

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RG VISA.FRAUD.REISSUE

• Second RG
• Rereads CAMS letterfile for this case
• Card note appended with decision
• 01/23/2007 155p User 918
• 01/23/2007 US.2007.030FF.IC
• Reissue Date 01/23/07
• 423817006405XXXX -New Number
• T.J.Maxx Mass Reissue

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RG VISA.FRAUD.REISSUE

• Letter created
• Generate letter
• OR -
• Generate csv for 3rd party printing
• This spreadsheet also delivered to ATM / VISA for
  reference
• Card is then reissued

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RG VISA.FRAUD.CANCEL.CARD

• Ran after 30 days
• Allows members time to get new cards
• Cancels cards noted in CAMS case

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Member Notification

• Letters
• In house mailing
• 3rd party mailing for large compromises
• Email
• Not at this time, but certainly an option

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Account Monitoring

• Non blocked cards
• Scan accounts
• Look for notes
• If notes, look for manual blocked cards
• If many, block entire case

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Questions??