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What are fraud screening tools?

Fraud screening tools are software that analyze transactions and indicate if a transaction is likely to be fraudulent. Fraud screening tools provide you with information that allows you to decide whether to continue with the transaction. For example, a fraud screening tool can provide a score between 1 to 100 for transactions. A higher score indicates a higher risk that the transaction is fraudulent.
Fraud screening tools may check the following:

  • Cardholder details match the details that the issuing bank has on file for the cardholder
  • Whether the card has been used in previous fraudulent transactions
  • Whether the cardholder has a large number of other cards associated with their account
  • Location where the cardholder is making the purchase if the card is not present

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