Thursday, August 21, 2008

Banks to test real-time fraud alerts

Credit card giant Visa is teaming up with with eight North American banks to <A HREF="http://blogs.zdnet.com/security/?p=1756&tag=nl.e539">deliver fraud alerts in real-time</A> via SMS (text messages) and emails to cell phones.

The pilot program will allow about 2,000 Visa cardholders to set thresholds that will trigger an immediate transaction alert to a mobile device. Once an alert is received, a cardholders can verify the transaction details, and if the transaction appears to be irregular, can immediately contact their bank to help stop further transactions on the card.

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