There's no point in locking the barn door after the cows runaway. Ditto for detecting fraud after criminals already have lootedan account.
Enter FraudNet, a service now offered by Grand Rapids, Mich., CUSOCU*Answers that is intended to nip fraud in the bud beforeeither institutions or their members lose money.
FraudNet – which CU*Answers purchased from Fiserv – is apredictive analytics toolset that scans pending transactionsagainst a database of known high-risk activities, IP addresses andlike indicators.
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