You are here: silicon.com > Software > Security Strategy

Security Strategy

HSBC rolls out anti-fraud software to card owners

Will spot and stop fraudulent transactions...

Tags: hsbc, fraud

By Dan Ilett

Published: 12 July 2005 12:40 BST

HSBC is deploying anti-fraud software that detects unusual spending behaviour among its card holders.

The third-largest bank in the world, with more than 100 million bank cards in circulation, is using software from SAS that analyses and monitors card-owner spending patterns, and freezes transactions if it suspects they are fraudulent.

The software will be implemented in all of HSBC's major card businesses around the world.

A press statement from SAS said the two companies are looking to extend the technology into other transaction monitoring applications.

Ian Manocha, director of the worldwide fraud practice at SAS, said: "Since fraud prevention and detection is a shared goal across the financial industry, [we are] already working with a number of other institutions to build a broader consortium in conjunction with HSBC."

But a spokeswoman from the Association of Payment and Clearing Services said behavioural detection software is nothing new in the banking industry.

She said: "The standard software is called Falcon - one of the best known brand names. But this sounds like it's getting more sophisticated and can give you more information.

"[The software] can detect and differentiate between criminal behaviour with cards just as much as your behaviour. [Fraudsters] often start with a small set of transactions with a card like a phone call or something. So there are some triggers."

  1. Zones
  2. Management
  3. Networks
  4. Software
  5. IT Services
  6. Hardware
  1. Verticals
  2. Public Sector
  3. Financial Services
  4. Retail & Leisure

Bob Tarzey The rise and rise of Infor Quocirca's Straight Talking: Where next for the apps giant?

Inbox: Vista, Bletchley Park and Cuil "Windows 98 was a far better and more capable OS..."


  • Jobs
Lead Credit Risk Analyst - SAS - Northampton

Successful Credit Card organisation is urgently seeking a Lead Credit Analyst to join their Customer Acquisitions team within a large Credit Risk ...

Financial Services - Risk and Compliance

Specific Technical Experience The individual will need change programme and systems implementation experience in a selection of the following areas: ...

Senior Risk Analyst: North West 25-35K+ Extensive Benefits

Production and interpretation of credit risk management information to monitor the impact of risk decisions on customer and portfolio behaviour An ...

CIO50 2008
The silicon.com CIO50 2008 profiles the most influential and innovative tech chiefs in the UK across all industries and organisation size, from the biggest FTSE100 companies to high growth dot-com start ups and the public sector. The list was voted on by the UK CIO community and a panel of experts. Find out more in our latest special report.





Quick Sitemap Links: