Fiserv's FraudNet™ Prevents More than $287 Million in Fraud Losses Since Its Inception

14.05.08 - 20:39 ... source : Fiserv

... The CheckFree service blocks more than 21,000 attempted fraudulent bill payment transactions for 462 financial institutions BROOKFIELD, Wis., May 07, 2008 (BUSINESS WIRE) -- Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial and insurance industries, today announced that the CheckFree FraudNet(TM) automated fraud detection and case management system has blocked more than 21,000 attempted fraudulent bill payment transactions totaling $287.9 million since the service went live in November 2005. While the actual incidence of fraud for electronic payments is low, FraudNet provides a powerful solution for financial institutions to lower fraud rates even further. The FraudNet service is part of a suite of fraud prevention solutions offered by Fiserv that helps detect and mitigate fraud from log-in authentication to back-end payment processing, ...» Next (HTML)