SAN JOSE, Calif. (3/21/16)--CU24 has signed up for the FICO Card Alert Service, which detects fraudulent activity by monitoring bank and non-bank ATMs in the United States, as well as point-of-sale (POS) card devices at retailers.
FICO Card Alert Service will monitor CU24's network of 325,000 ATMs and send alerts immediately when device compromises are detected.
Combining predictive analytic software and investigative techniques, FICO Card Alert Service pinpoints compromised debit cards early so that institutions can stop fraud at its inception, before significant losses occur.
"By working with FICO, we will be making America's credit unions safer for millions of members," said Christopher Poole, CU24 vice president of operations and product management. "No other service can trace fraud on millions of cards back to compromised ATMs, and help us shut down and repair compromised ATMs and POS devices quickly."
Added TJ Horan, FICO vice president of fraud solutions:"FICO Card Alert Service works like a detective. We can detect fraudulent ATM transactions and track the card use back to compromised ATMs and POS devices, determine when the compromises took place, and tell card issuers which of their cards may have been compromised by the device.”