Advanced Fraud Solutions (AFS), a fraud detection technology provider, has updated its omnichannel debit and credit card fraud prevention solution TrueCards with new functionalities.
Among these upgrades include the integration of threat intelligence company Q6 Cyber with TrueCards.
Q6 Cyber monitors the darknet and other restricted sources, offering actionable insights to combat the threats.
Q6 Cyber founder and CEO Eli Dominitz said: “The Q6 integration with TrueCards gives financial institutions a heads-up on which card accounts have been compromised by monitoring the Dark Web.
“In instances when account details have been compromised, it’s only a matter of time before a fraud attempt might occur. Financial institutions need to be able to react quickly and with precision to determine risk and, if needed, suspend compromised accounts.”
Moreover, TrueCards will now feature an automated risk notification process as well as offer a 3D view of Merchant Frequency. Other upgrades to the solution include improved search screen and detection of duplicate transactions.
AFS VP of Strategic Partnerships Ted Kirk said: “The enhancements to the TrueCards platform will be highly valuable as serious fraud schemes, like card-not-present fraud, continue to evolve and accelerate.”
TrueCards enables financial institutions to detect card fraud across any debit or credit card network, utilising a “proactive approach”.