Real-Time ATM Transaction Surveillance

Integrated Research recently announced release of a surveillance system that allows instant detection of possible fraud at automated teller machines and point-of-sale locations. According to the company, the system is the first to provide real-time access to transaction details, including primary account numbers, while having "negligible impact" on system resources. It compares those transaction details against a sophisticated multi-conditional pattern that can detect possible fraud.

The system can be set up so that when a criminal attempts to use a card that doesn't belong to him or her, the system alerts bank personnel. The ATM or POS could retain the card if the transaction is deemed fraudulent and bank personnel could alert the cardholder immediately and advise them on what happened and what to do.

Currently, ATM and POS fraud detection systems have to rely on manual extraction of historical details from transactions logs to sort out why a crime occurs.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 1, 2/05