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© 2015 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only and cannot be reproduced or shared without Fair Isaac Corporation’s express consent. Fraud – Our Next 8 Months At A Glance John Buzzard Product Manager FICO Card Alert Service
2 © 2014 Fair Isaac Corporation. Confidential. Our Present Climate
3 © 2014 Fair Isaac Corporation. Confidential. Brands Under Attack
4 © 2014 Fair Isaac Corporation. Confidential. Apple Pay 17% Yes-we are live. 43% Launching in % Not planning a launch. “Is your financial institution currently participating in Apple Pay?” Source: February 2015 FICO informal poll.
5 © 2014 Fair Isaac Corporation. Confidential. Apple Pay Risk – Best Practices Require cardholder to opt into Apple Pay (via mobile app or secure online banking). Ask account-based challenge questions for added security. (last deposit amount, most recent place of travel). In doubt? Call the cardholder’s can be reached number. Device recognition: Compare the mobile banking device identification to the Apple Pay provisioning request for additional layer of security. Deny authorizations for payment types you are not currently accepting like EMV, NFC, Apple Pay. Know your Presentation Instrument “PI Codes” to help identify fraud origins. Leverage push notifications via mobile banking apps to notify/confirm Apple Pay with the cardholder. Utilize available rules-based technology for entry modes and presentation instrument type codes consistent with mobile payments. NOTE: Be aware of PI codes in the authorization log for Apple Pay.
6 © 2014 Fair Isaac Corporation. Confidential. Card Skimming Trends
7 © 2014 Fair Isaac Corporation. Confidential US PIN COMPROMISE MAP RESUTLING IN ATM FRAUD Blue=FI ATM Light blue=Non FI ATM Red=POS Source: FICO 4/6/15 last update
8 © 2014 Fair Isaac Corporation. Confidential. Predictions – The next 8 months Counterfeit fraud will continue to flourish as the US gains ground on chip acceptance. Identifying the “real” customer will become more difficult due to Anthem loss of PII. Gas dispenser fraud and pump skimming will intensify thru Customized malware attacks will increase.
9 © 2014 Fair Isaac Corporation. Confidential. Fraud Networking Website
Confidential. This presentation is provided for the recipient only and cannot be reproduced or shared without Fair Isaac Corporation's express consent.
© 2014 Fair Isaac Corporation. Confidential. This presentation is provided for the recipient only and cannot be reproduced or shared without Fair Isaac.
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