WAKEFIELD, Mass.--(BUSINESS WIRE)--NEBA has developed and deployed NEBA Account Status Fraud Monitoring Service, a fraud monitoring protection service to guard against the results of “brute force” attacks on client bank credit card portfolio accounts. Specifically, the service targets the potential for fraud during Account Status transaction authorization. Brute force is a malicious trial and error method used by application programs to obtain sensitive account information through exhaustive effort.
Due to the nature of the account status transaction, current fraud management tools are ill equipped to monitor activity on the account, such as velocity and data mismatching. This creates a vulnerability where in fraudsters could attempt to obtain the correct verification values for the card record. The NEBA Account Status Fraud Monitoring Service guards against this susceptibility by monitoring suspicious activity, on a daily basis, and informing the bank of the account and account details when questionable activity is detected, so that the bank can determine if action is warranted.
“We are pleased to add NEBA Account Status Fraud Monitoring Service to the tools our bank clients can optionally employ to better protect against credit card fraud.” Stated Ted Keith, President and CEO of NEBA, “This service, which has been exceptionally well received by our bank clients, helps repair what was an under-the-radar gap in current fraud management system offerings.”
The NEBA Account Status Fraud Monitoring Service provides NEBA bank clients optional protection against potential fraud that may result from vulnerability in their current credit card fraud monitoring services.
Headquartered in Wakefield, Massachusetts, and founded in 1969 as one of the twelve original MasterCharge Associations, NEBA provides banks in the U.S. and Caribbean a full range of high-quality credit card issuing and merchant acquiring programs, products and services, as well at the framework, support and educational assistance banks need to operate profitable, effective payment card programs that enhance customer satisfaction and loyalty.
NEBA members have access to the best in card solutions including MasterCard and Visa brand cards. NEBA’s unique bundled programs are designed to speed program implementation and minimize the need to allocate bank resources. For more information please visit neba.com.