Tactics, plans and the whole meaning of fraud is evolving from day to day. Controlling and improving the processes is one of the steps in the fight against fraud. But what is the key to be effective against fraud in the payment industry?
veryone's heard about the Target breach at the end of last year; some of you may have been affected. One way to understand this breach - to borrow a phrase from Deep Throat talking about the Watergate Scandal in "All The President's Men" - is to follow the money.
This webinar will do that. It will detail what we know about the Target breach and how it happened. But it will place particular emphasis on the money trail - not only in terms of how the bad guys turn the data into cash, but also who ends up footing the bill, the role insurance can play, the likelihood of lawsuits, and so on. As such, this webinar represents a powerful opportunity to learn what really goes down as a breach unwinds from a respected professional who has been in the trenches for decades.
Our featured speakers for this webinar will be:
- Ted Julian, Chief Marketing Officer, Co3 Systems
- Mark Rasch, Chief Privacy Officer, SAIC
AlgoCharge offers a web-based fraud management system that assists in credit card fraud detection & prevention with Geo-based filters. The system provides various levels of fraud protection to enhance acceptance rate & reduce the risk of charge-backs.
PRO HAWK - Holistic, Proactive, Real-time, Integrated Approach of Fraud & R...Jerome Salecious J
PRO HAWK - Holistic, Proactive, Real-time, Integrated Approach of Fraud & Risk Management system.
The same methodology can replicate or implement in any domains like Telecom, Banking, Financial, Non Financial, Payment Gateway, Point of Sale (PoS), Anti Money Laundering (AML), E-commerce, M-Commerce, Mobile Money, E-wallet, Cashless & Regular mode of payments.
The credit card has become the most popular mode of payment for both online as well as
regular purchase, in cases of fraud associated with it are also rising. Credit card frauds are increasing
day by day regardless of the various techniques developed for its detection. Fraudsters are so expert that
they generate new ways for committing fraudulent transactions each day which demands constant
innovation for its detection techniques. Most of the techniques based on Artificial Intelligence, Fuzzy
logic, neural network, logistic regression, naïve Bayesian, Machine learning, Sequence Alignment,
decision tree, Bayesian network, meta learning, Genetic Programming etc., these are evolved in
detecting various credit card fraudulent transactions. This paper presents a survey of various techniques
used in credit card fraud detection mechanisms.
veryone's heard about the Target breach at the end of last year; some of you may have been affected. One way to understand this breach - to borrow a phrase from Deep Throat talking about the Watergate Scandal in "All The President's Men" - is to follow the money.
This webinar will do that. It will detail what we know about the Target breach and how it happened. But it will place particular emphasis on the money trail - not only in terms of how the bad guys turn the data into cash, but also who ends up footing the bill, the role insurance can play, the likelihood of lawsuits, and so on. As such, this webinar represents a powerful opportunity to learn what really goes down as a breach unwinds from a respected professional who has been in the trenches for decades.
Our featured speakers for this webinar will be:
- Ted Julian, Chief Marketing Officer, Co3 Systems
- Mark Rasch, Chief Privacy Officer, SAIC
AlgoCharge offers a web-based fraud management system that assists in credit card fraud detection & prevention with Geo-based filters. The system provides various levels of fraud protection to enhance acceptance rate & reduce the risk of charge-backs.
PRO HAWK - Holistic, Proactive, Real-time, Integrated Approach of Fraud & R...Jerome Salecious J
PRO HAWK - Holistic, Proactive, Real-time, Integrated Approach of Fraud & Risk Management system.
The same methodology can replicate or implement in any domains like Telecom, Banking, Financial, Non Financial, Payment Gateway, Point of Sale (PoS), Anti Money Laundering (AML), E-commerce, M-Commerce, Mobile Money, E-wallet, Cashless & Regular mode of payments.
The credit card has become the most popular mode of payment for both online as well as
regular purchase, in cases of fraud associated with it are also rising. Credit card frauds are increasing
day by day regardless of the various techniques developed for its detection. Fraudsters are so expert that
they generate new ways for committing fraudulent transactions each day which demands constant
innovation for its detection techniques. Most of the techniques based on Artificial Intelligence, Fuzzy
logic, neural network, logistic regression, naïve Bayesian, Machine learning, Sequence Alignment,
decision tree, Bayesian network, meta learning, Genetic Programming etc., these are evolved in
detecting various credit card fraudulent transactions. This paper presents a survey of various techniques
used in credit card fraud detection mechanisms.
FraudDECK includes pre-packaged business workflows for transaction surveillance across ATM & POS channels. It can be extended to facilitate surveillance of fraudulent transactions on other channels like mobile banking or payment transactions like Wire fraud or AML. For more information please visit: http://www.esq.com/transaction-surveillance/
PCI DSS can be one of the most infuriating set of standards on the compliance landscape. While it seems simple--six domains and twelve requirements--the art of interpreting PCI can lead to full blown war in an organization--with the security team at the center. In this session we’ll demystify some of the more difficult and misunderstood aspects of PCI DSS. We’ll cover the important changes from recently announced PCI DSS 3.0. We’ll also discuss the best practices for starting (and maintaining) a PCI DSS initiative in an organization and how to avoid battles with the QSA.
The International Journal of Engineering and Science (The IJES)theijes
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
Fraud continues to proliferate across financial institutions, through multiple lines of business and banking channels. Increasingly sophisticated criminal tactics and the proliferation of organized crime rings make detecting fraud difficult and preventing it nearly impossible. Adding to the complexity is increased globalization and growth through mergers and acquisition, which make it harder to effectively monitor multiple portfolios and business lines. The presentation discussus best practices and ideas around the prevention, investigation, and detection of possible fraudulent activities across multiple industries.
During this webinar you will learn:
How new advanced fraud detection models, including clustering, data/text mining, machine learning and network analysis can detect more suspicious transactions and behaviours
How workflow decision learning will make your system smarter by learning based on previous decisions and interactions
How batch file attachments can be used to attach invoices, receipts and other documentation to alerts for proper record keeping during investigations
Our new search feature that allows organizations to search alerts, work items, cases, regulatory reports, comments and attachments, as well as data from outside sources, to look for potential risks (for example, searching Export Control Lists to screen for export controlled goods)
How Concur users can now open original images of receipts directly in CaseWare Monitor, making investigations easier
Money Laundering and Its Fall-out - ROLE OF INFORMATION TECHNOLOGY IN ANTI M...Resurgent India
In an effort to detect potential money laundering schemes, financial institutions have deployed anti-money laundering (AML) detection solutions and enterprise-wide procedural programs.
In this session we will discuss the business case for a proactive, real-time fraud prevention strategy which enables you to maximize revenue opportunities whilst minimizing fraud. During the session we will create a fraud management check list which combines People, Processes and Technology, underpinned by data, analysis and tailored rules.
Solutionreach Webinar: Will Your Practice Be Ready for EMV by October 2015?Solutionreach
Effective October 15, 2015, Visa and Mastercard have mandated that all merchants who accept credit cards as a form of payment must be able to accept and process chip-card (EMV) based transactions. How does this affect you? On this date, YOU, the merchant, must have EMV standards in place or potentially be liable for counterfeit fraud.
In advance of this significant deadline, Solutionreach, and our new partner, Singular Payments, are holding a webinar to educate and guide you on how these new standards impact your practice, and what you must do to ensure compliance.
IN THIS WEBINAR, YOU'LL DISCOVER:
• How to prepare your practice for EMV.
• What EMV is and what is driving the new regulations.
• What the Liability Shift means.
• How to implement the new EMV technology.
• The benefits of converting early.
• Best Practices for choosing a merchant service.
• Additional 2015 payment trends.
FraudDECK includes pre-packaged business workflows for transaction surveillance across ATM & POS channels. It can be extended to facilitate surveillance of fraudulent transactions on other channels like mobile banking or payment transactions like Wire fraud or AML. For more information please visit: http://www.esq.com/transaction-surveillance/
PCI DSS can be one of the most infuriating set of standards on the compliance landscape. While it seems simple--six domains and twelve requirements--the art of interpreting PCI can lead to full blown war in an organization--with the security team at the center. In this session we’ll demystify some of the more difficult and misunderstood aspects of PCI DSS. We’ll cover the important changes from recently announced PCI DSS 3.0. We’ll also discuss the best practices for starting (and maintaining) a PCI DSS initiative in an organization and how to avoid battles with the QSA.
The International Journal of Engineering and Science (The IJES)theijes
The International Journal of Engineering & Science is aimed at providing a platform for researchers, engineers, scientists, or educators to publish their original research results, to exchange new ideas, to disseminate information in innovative designs, engineering experiences and technological skills. It is also the Journal's objective to promote engineering and technology education. All papers submitted to the Journal will be blind peer-reviewed. Only original articles will be published.
Fraud continues to proliferate across financial institutions, through multiple lines of business and banking channels. Increasingly sophisticated criminal tactics and the proliferation of organized crime rings make detecting fraud difficult and preventing it nearly impossible. Adding to the complexity is increased globalization and growth through mergers and acquisition, which make it harder to effectively monitor multiple portfolios and business lines. The presentation discussus best practices and ideas around the prevention, investigation, and detection of possible fraudulent activities across multiple industries.
During this webinar you will learn:
How new advanced fraud detection models, including clustering, data/text mining, machine learning and network analysis can detect more suspicious transactions and behaviours
How workflow decision learning will make your system smarter by learning based on previous decisions and interactions
How batch file attachments can be used to attach invoices, receipts and other documentation to alerts for proper record keeping during investigations
Our new search feature that allows organizations to search alerts, work items, cases, regulatory reports, comments and attachments, as well as data from outside sources, to look for potential risks (for example, searching Export Control Lists to screen for export controlled goods)
How Concur users can now open original images of receipts directly in CaseWare Monitor, making investigations easier
Money Laundering and Its Fall-out - ROLE OF INFORMATION TECHNOLOGY IN ANTI M...Resurgent India
In an effort to detect potential money laundering schemes, financial institutions have deployed anti-money laundering (AML) detection solutions and enterprise-wide procedural programs.
In this session we will discuss the business case for a proactive, real-time fraud prevention strategy which enables you to maximize revenue opportunities whilst minimizing fraud. During the session we will create a fraud management check list which combines People, Processes and Technology, underpinned by data, analysis and tailored rules.
Solutionreach Webinar: Will Your Practice Be Ready for EMV by October 2015?Solutionreach
Effective October 15, 2015, Visa and Mastercard have mandated that all merchants who accept credit cards as a form of payment must be able to accept and process chip-card (EMV) based transactions. How does this affect you? On this date, YOU, the merchant, must have EMV standards in place or potentially be liable for counterfeit fraud.
In advance of this significant deadline, Solutionreach, and our new partner, Singular Payments, are holding a webinar to educate and guide you on how these new standards impact your practice, and what you must do to ensure compliance.
IN THIS WEBINAR, YOU'LL DISCOVER:
• How to prepare your practice for EMV.
• What EMV is and what is driving the new regulations.
• What the Liability Shift means.
• How to implement the new EMV technology.
• The benefits of converting early.
• Best Practices for choosing a merchant service.
• Additional 2015 payment trends.
Fortify Your Enterprise with IBM Smarter Counter-Fraud SolutionsPerficient, Inc.
Organizations lose an estimated five percent of annual revenues to fraud, totaling nearly $1 trillion in the U.S. alone. Cyber criminals are more organized and better equipped than ever, and continue to evolve their strategies in order to undermine even the strongest protections.
We continue to hear about major security breaches across all industries, but what is being done to fix the problem? There must be a tight interlock between risk, security, fraud and financial crimes management. Current solutions are proving inadequate as point solutions and a corporate silo mentality directly contribute to the risk of fraudulent activities going undetected.
Our webinar covered:
-How IBM’s Smarter Counter Fraud initiative can help public and private organizations prevent, identify and investigate fraudulent activities
-Real-world use cases including how one financial institution stopped $1M in fraud in the first week after implementing a counter-fraud solution
-Perficient’s multi-tiered approach to help guide successful business outcomes
It’s time to stop the bad guys with IBM Smarter Counter Fraud and Perficient – learn how now!
Navigate the Financial Crime Landscape with a Vendor Management ProgramPerficient, Inc.
What is the impact of a failed risk management program as a result of actions committed by a vendor or service provider? Your financial institution may be exposed to reputational damage and financial losses running into billions of dollars.
During this webinar, our financial crime and risk management experts discussed current financial crime trends, steps to identifying vendor risks, the need for Know Your Vendor (KYV) and due diligence, and creating a cross-functional risk-based approach to vendor governance.
Fraud is omnipresent & as the technology is rising the fraudsters turn to new ways and newer channels to target banks and customers.
Most common type of banking fraud across the globe are:-
Skimming : Card fraud is one of the most fascinating aspects of the payment industry, not least because it is relentless and mutating.It means that attaching a device to the mouth of the ATM that in.......
#IBMInsight session presentation "Mitigate Risk, Combat Fraud and Financial Crimes"
The Issue of fraud, challenges, fighting fraud as an enterprise endeavor, IBM Smarter counter fraud framework and IBM Counter Fraud business services
More at ibm.biz/BdEPRH
Explore our students' project on detecting credit card fraud using advanced analytics techniques. This project utilizes machine learning algorithms to analyze transaction data and identify fraudulent patterns, offering valuable insights for financial institutions. Gain insights into fraud detection strategies and the impact of technology on financial security. To learn more, do check out https://bostoninstituteofanalytics.org/data-science-and-artificial-intelligence/.
The talk will have 3 parts. The overview of the practical applications of the AI and ML in the FinTech industry with a short explanation of the PSD2 directive and the disruption is caused. Application of the AI/ML from the perspective of the end-user, personal financial health, financial coach, etc. The overview of the architecture, technologies, and frameworks used with practical examples from the Zuper company.
Risk Beyond Acquiring: Merchant Risk Across FinTechGeo Coelho
In our Vendor Spotlight at MAC 2016, Jose Caldera, IdentityMind VP of Marketing & Product, presented a collection of use cases and examples of how IdentityMind clients are applying our platform for merchant risk, fraud prevention, anti-money laundering, and terrorist financing prevention.
The session provided a great introduction to the benefits of our platform, and we've provided a synopsis of it here for those who missed the session, or were curious for more information.
GRC and Anti-Money Laundering Services.pdfbasilmph
Anti-money laundering services have been a part of compliance activities and processes in financial institutions for a long time. With the complexity and sophistication of the global financial system, anti-money laundering regulations are becoming more important.
A large and successful convenience store (c-store) chain shares how it combats fraud. “There are some very unintelligent criminals that target our stores… there are the smart ones too, and we put a lot of work into minimizing their impact on our business. But we do seem to have a higher than average proportion of really foolish fraud attempts. For example
Mercury Processing Services International is an ever growing and innovative company and here you can find out more about their interests, goals and achievements.
You have probably heard of the major breach at the US retailer Target, in which 40m credit cards and their details were stolen. As with any incident of this magnitude, there are valuable lessons to be learned. One way to understand the breach more fully - to borrow a phrase from DeepThroat talking about the Watergate scandal in All The Presidents Men - is to follow the money.
This webinar will do just that. Using the Target breach as a real example, for which there is now much information in the public domain, we will detail what we know about how it happened. We will place particular emphasis on the money trail, not only in terms of how the bad guys turn the data into cash, but also who ends up footing the bill, the role insurance can play, and the resulting lawsuits and other repercussions (both the CEO and CIO of Target have resigned). As such, this webinar represents a powerful opportunity to learn first hand what really happens as a breach unwinds from a very respected professional who has been in the trenches for decades.
And here are three important take-aways from this highly informative webinar:
1. Why Chip and PIN is not foolproof
2. A detailed understanding of where the money goes post breach
3. Top tips for how firms must think differently about IR in the wake of Target-like incidents
Our featured speakers for this webinar will be:
- Ted Julian, Chief Marketing Officer, Co3 Systems
- Mark Rasch, Chief Privacy Officer, SAIC
This presentation covers bridging the gap between IT and business and how to, through cooperation, achieve the best results. Also, how understanding tribal behavior is important and how to achieve a great working enviroment.
Since processing cardholders personal data and sensitive card data in the name of their customers, Mercury Processing Services International needs to comply with strict Global Payment Schemes regulations, different audits from National Banks and EU regulations.
From August 1st, gPay is available in Croatia and implementations for other markets are planned in the following months. This session is the short review how MPSI helped this implementation and how the project rolled out.
General reminder of most important segments of PSD2 and its Regular Technical Standards (RTS) and guidelines. The presentation will take into account some aspects that might be of relevance to the fraud prevention experts.
Overview of current initiatives to improve the fraud detection process using analytics: enriched data set, new algorithms and technologies to support the process.
Bank members of the Slovenian Activa group are successfully daily dealing with fraud. By showcasing fraud trends on the field of issuing, some of the most frequent fraud types all over Slovenia will be pointed out.
Many changes are being announced within the payment scheme rules, like those related to the transaction receipts and chip liability shift. Presentation will also give an insight to the MasterCard Dispute Resolution Initiative announcement as well as dispute-related hot topics and modification for AEIPS PIN transactions.
Presentation gives insight into how is the scoring module integrated in Lynx Fraud Management System and how to enhance the scoring models by using new available data and new modeling methods.
Payment card business is constantly evolving, but so as fraud. Fraud is a moving target and requires continuous evolution of fraud protection and prevention solutions. Due to this fact, Mercury Processing Services International Ltd is fostering the culture of continuous improvements of related products and services to address these challenges, to improve user experience and increase the products performance.
Does security and convenience go well one with another and how to increase customer's convenience in digital commerce? What's new in ACS 2.0 and how SA supports online commerce safety? Presentation will give you answers to all of those questions but also an insight about advanced security options topics.
As the card payment industry is growing, where innovation and security are the main features, fraudsters are forced to take advantage of every possible situation and thus be innovative. Fraud and IT experts have joined their forces for successful combat against fraud.
On IDC Adriatic Security Summit, held from 16th-17th April 2018 in Belgrade, Serbia, our Jasna Fumagalli, Compliance, Security and Risk Management Director hold a presentation "How to talk business" and gave her thoughts and expertise on security measures within business.
More from Mercury Processing Services International (12)
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Unveiling the Secrets How Does Generative AI Work.pdfSam H
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
Cracking the Workplace Discipline Code Main.pptxWorkforce Group
Cultivating and maintaining discipline within teams is a critical differentiator for successful organisations.
Forward-thinking leaders and business managers understand the impact that discipline has on organisational success. A disciplined workforce operates with clarity, focus, and a shared understanding of expectations, ultimately driving better results, optimising productivity, and facilitating seamless collaboration.
Although discipline is not a one-size-fits-all approach, it can help create a work environment that encourages personal growth and accountability rather than solely relying on punitive measures.
In this deck, you will learn the significance of workplace discipline for organisational success. You’ll also learn
• Four (4) workplace discipline methods you should consider
• The best and most practical approach to implementing workplace discipline.
• Three (3) key tips to maintain a disciplined workplace.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
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Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
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2. Mercury Processing Services International is a provider of payment solutions, dedicated to developing and
managing its payment business on an international level. Company was established in 2009.
Located in Croatia and Slovenia, we serve clients from the financial and banking sectors across Central & Eastern
Europe and North Africa. Our portfolio is tailored to meet regional, local market or individual client requirements and
business strategy.
Technological expertise is the main driver of enhancing and enriching our existing business relations, as well as the
main source for innovations we provide in the payment industry.
The foundations of Mercury Processing Services International rely on complementary strengths of the two strongest
cards businesses, Banka Koper and Privredna banka Zagreb, and their transition from local companies into a fully
international organization.
2NORMAL
3. OUR DNA KEY PILLARS
EXPERTISE
• Deep business and industry insights with technology know-how
• Employees focused on the core mission of the company
• High fluidity of communication and people interactions
• More than 70% employees with university degree and 100% English fluent
• Elaborated trainings programs and corporate culture based on constant self
and collective improvement
• Early and quick adopters, with tailored approach to meet local needs
• Strong expertise based on innovation hub with deep business and industry insights
• Service minded employees with rigorous understanding of client’s needs and their
specific institutional context
• Lean and responsive organizational structure built around value streams and powered
by agile software development
• Truly international (teams, mindset, approach, …)
• Diverse (nationalities, cultures, languages…)
• Adaptive and flexible (learning from customers requirements…)
• Creative (solution oriented, cutting corners, …)
• Agile (methodology, spirit, …)
PEOPLE
VERSATILITY
NORMAL 3
4. OUR SERVICES
Issuing solutions Value added solutionsAcquiring solutions
• Cardholder and Card
Management
• Issuer Authorization Service
• Transaction Processing
• Proximity Payments
• POS Solutions
• ATM Solutions
• E-Commerce
• Reporting
• Call Center
• Dispute and Chargeback
Management
• Strong Authentication
• Fraud Detection
• Advanced Risk Modelling
• Loyalty Programs
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6. FRAUD IN THE PAYMENT CARD INDUSTRY
• Payment card fraud is among the fastest-growing and best-known means of generating
criminal profit.
• It has evolved from being committed by casual fraudsters to being committed by organized
crime and fraud rings that use sophisticated methods.
• The sophistication of their tactics makes detecting fraud difficult, especially as the volume of
bank transactions grows by about 10% every year.
• Besides the huge financial loses, fraud hurts institutions’ reputation, customer loyalty, and
shareholder confidence.
Damage is far greater than just the financials around the actual fraud loss.
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7. NORMAL 7
1980 1990 2000 TODAY
Fraudster Individuals Teams Local crime rings International crime rings
Target Consumers Small retailers Larger retailers
Banks
Processors
Leading Fraud
types
Lost/Stolen
Domestic
counterfeiting /
skimming
Identity theft
Phishing
Rudimentary data
compromise
CNP fraud
ATM fraud
Cross-border data
compromise
Type of cards
targeted
Travel&
Entertainment
cards
Premium credit
cards
Mass market credit
cards
All type of credit card
Debit cards
Prepaid cards
Necessary
resources
Opportunism
Rudimentary
knowledge
Technical knowhow
Technical expertise
Insider information
Global connections
EVOLUTION OF THE PAYMENT CARD FRAUD IN EUROPE
8. TRUE COST OF FRAUD – COUNTING THE UN-COUNTABLES
TRUE COST
OF
FRAUD
CEO’s Apologies
Regulatory Fines
Impact on share price
Tighten Regulations
Costs of Investigation
Revenues Loss
Re-acquiring
Reputational Damage
Source: VISA
Attrition & re-acquisition
Actual losses due to fraud, measured by the accumulated fraud transaction amounts, are often just
the tip of the iceberg.
But consider what’s below the surface: fraud hurts institutions’ reputation, customer loyalty,
shareholder confidence.
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8
Increased OpRisk exposure and
capital charge
9. FRAUD IN THE PAYMENT CARD INDUSTRY
FRAUD DRIVES CUSTOMER ATTRITION
NORMAL 9
63% 43% 25%
of consumers who
have experienced
fraud are more likely to
use their cards less.
of consumers who
received replacement
cards as a result of
fraudulent activity use
their new card less than
they used their original.
of consumers changed
financial institutions
due to dissatisfaction
after experiencing
fraud.
Source: ACI Worldwide Global Consumer Fraud Report
Statistics show poor handling of fraud is a key reason you will loose the trust
of that customer and why they are likely to close an account.
10. FRAUD IN THE PAYMENT CARD INDUSTRY
FRAUD SHAPES THE CUSTOMER’S EXPERIENCE
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How you handle a fraud event is a defining moment in customer satisfaction and
loyalty to your brand.
You FAIL
when ..
You SUCCEED
when ..
• Genuine transactions are NOT declined
• Contact is established within second
• Interactions are personalized and convenient
• Customers are informed and empowered
• Legitimate activity is stopped
• Your customers are not informed
• A process takes too long
12. Set up the
organization
12
Antifraud
operating model
• Strategies and thresholds - need to be determined based on:
• Fraud risk appetite, fraud tolerance, policies and procedures, KPIs;
• Customer experience / The impact on the cardholders;
• How much you refer or decline depend on your preferences for customer
satisfaction and aggressiveness towards fraud prevention;
• Available resources (Fraud Operations, Call Centre etc.).
• The balance is a critical: to set a fair balance between fraud mitigation purposes
and Business sales objectives.
• Dedicated antifraud teams with fraud skill set and know-how;
• Fraud monitoring 24/7 - adequate capacity to table fraud needed during
non-working hours;
• Alert management, cardholder/merchant contact, countermeasures;
• Fraud diagnostics – drill-down, data discovery and correlations;
• Incident management – CPP identification, Black listing, Card reissuance,
Reporting to payment schemes;
• Collaboration with Law enforcement, National Bank, Local and Global
Fraud associations.
NORMAL
OUR FRAUD APPROACH AND FRAMEWORK
13. KPIs monitoring
13
Fraud Detection
Platform
Lynx Fraud Management System – an in-house Fraud detection and prevention
solution for detecting payment card fraud and addressing it along multiple risk
dimensions.
• The system combines artificial intelligence and user-specified rules to give the bank
agile fraud detection and prevention solution.
• Protects all cardholders regardless of their chosen payment types (debit, credit,
mobile, contactless payments) and of brands.
• Supports multi-currency, multi-organization and multi-channels fraud prevention
and detection.
• By using our system, banks are enabled to perform highly automated and
sophisticated screenings of incoming transactions and to flag suspicious
transactions.
Main fraud risk metrics to shift operations strategy;
• No of False positives;
• No of alerting scenarios; alerts / cases;
• Operational costs – Average time-to-case;
• Overall fraud losses, unrecovered fraud losses, fraud loss per case, CHB expenses
NORMAL
OUR FRAUD APPROACH AND FRAMEWORK (II)
14. LYNX FRAUD MANAGEMENT SYSTEM HIGHLIGHTS
Lynx Fraud
Management
System
Online plus module for
automatic card blocking
Covering all channels, brands,
payment options from a single
platform
High level of modularity & flexibility
Possibility to implement
limitless rules
Extensive reporting suite
Multi-institution solution
Fraud notification services
Extensive data retention
Multiple brands / card schemes
supported
Audit records on who did what
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14
Comply with regulatory standards
15. LYNX FRAUD MANAGEMENT SYSTEM - COMPONENT 1
This application empowers fraud experts to create, maintain and control fraud strategies quickly, easily and cost
effectively, in order to drive smarter fraud strategies and make faster and more consistent decisions.
It enables a quick response to attack flash fraud threats and implements different risk parameters based on corporate
policies and guidelines, external regulations and the analysis of historical data.
COMPONENT 1: LYNX RULE ENGINE SYSTEM
HIGHLIGHTS
• Rules are changed without IT intervention and are immediately propagated in the production environment.
• Possibility to implement „limitless” number of rules and hotlists
• Various types of rules, single, count, sum, hotlist, comparing two transactions, monitoring 1st pattern
appearance…and all combinations + Scoring
• Enables the setting of rules as Online plus rules, which upon alert creation perform automatic card blocking
directly from FCM
• Enables rule based notifications
• Enables the implementing of different fraud operations strategies using Low/Med/HR rules classification
NORMAL 15
16. • Fraud detection is supported with data mining
techniques.
• The fraud score is easily combined with other
business rules in the fraud detection process.
• Enables detection and score the probability of
fraud in cardholders’ transactions and in addition
to custom business rules define the appropriate
action to be performed.
• Leverage Big Data & Analytics to gain a holistic
view of fraud.
• The scorecard module changes in parameters,
variables, and other can be very easily and
quickly done, changes can be made by issuer,
market, transaction type.
FIGHTING FRAUD WITH ARTIFICIAL INTELLIGENCE
NORMAL 16
17. Are data consistent?
Do duplicate records exist?
Are relations within tables
consistent? Between
entities and attributes?
Are data available at
needed time?
Are data from verifiable
sources?
Are all data within
specified domains?
17
Data
quality
Timelines
Are all necessary
data present?
Accuracy Completeness
IntegrityValidity
NORMAL
Consistency
ANALYTICS STRATEGY – DATA MANAGEMENT
• Data quality challenges
• Better data enables better detection
• Introduce new data assets (session data, device data, location based information)
• Multiple source systems challenges
• Transform information into decisions
18. LYNX FRAUD MANAGEMENT SYSTEM - COMPONENT 2
Case manager is a web-based application which provides comprehensive information to enable fraud
analysts to prioritize all alerts in multiple queues according to specified user-defined rules and for analysts
to review and decide on alerts. It is tailored to help meet the most complex operational requirements.
COMPONENT 2: LYNX CASE MANAGER – MONITORING AND INVESTIGATION TOOL
HIGHLIGHTS
• Various levels of fraud monitoring both on issuing and acquiring level
• Integrated transaction viewer, extensive Reporting suite
• Card Service functionality for card blocking and unblocking directly from FCM to B/O
• SMS functionality for quicker cardholder contacting
• Hotlists - whitelists and blacklists
• Case suppression lists (full and grey)
• Extensive transactions and cardholder information and card alert history
• Card transactional history (6 months access via application; 13 months in database)
NORMAL 18
19. LYNX FRAUD MANAGEMENT SYSTEM - COMPONENT 3
COMPONENT 3: VALUE ADDED FEATURES
Lynx Fraud Management System is built to boost analyst efficiency and efficacy by leveraging the added
functionality embedded within the system which will keep focus and save time wasted logging in to satellite
applications.
Major features integrated within the Lynx fraud management system are:
• Online plus mode - allows automatic card blocking
• Integrated Transaction Viewer
• Customizable Reporting Suite
• Fraud notification services (SMS, email)
SUPPORTED SERVICES
• Advanced Fraud Management service
• Fraud analytics and fraud diagnostics support
• Consultancy and training
NORMAL 19
20. LYNX FRAUD MANAGEMENT SYSTEM BENEFITS
FOR THE BANKS:
• Reduces fraud losses
by detecting fraud
earlier with fewer
false positives
• Improves operational
efficiency through
added value
functionalities
• Minimizes cardholder
impact on operational
costs
• Decreases
chargeback expenses
• Reduces charge-offs
FOR THE
CARDHOLDERS:
• Cardholder
satisfaction
• Cardholder
convenience
• Feeling of security
• First line of defense
from fraudsters
• Enhanced customer
experience at the
point of detection
FOR THE MERCHANTS:
• Merchant satisfaction
and convenience
• Feeling of security
• First line of defense
from fraudsters
NORMAL 20
21. A TYPICAL DAY … TRUSTED WITH SCALE
Average processing and monitoring of 1.5 million transactions a day
In peak moments Fraud Management System is processing around 30
transactions per second
Over 600 active fraud rules are monitoring in Rule Engine System
Fraud monitoring of 6.7 million cards, 75.000 POS
terminals and 2.600 ATM
Fraud analysts of 20 Banks in 11 countries are
constantly taking appropriate measures using FMS
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21