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Security Spotlight - October 2014

We may be calling you!

To help protect you against credit/debit card fraud, we have enhanced our fraud system to include a sophisticated neural network. Now, when a transaction on your card appears to fall outside of your usual spending pattern, an alert is created. A fraud analyst automated voice system will then contact you at home or your office to verify whether you authorized the transaction which does riot fit your historical card spending behavior. Part of the verification will be to ask you to confirm the last 4 digits of your Social Security number on file.  They WILL NOT ask for any other information.  Please read the IMPORTANT note below.

If we are not successful contacting you, a decision will be made on your behalf to block future transactions until you can be reached for confirmation. Therefore it is important that you provide us your most up to date phone numbers. This is part of our continuing effort to provide you with the best protection available when using your credit/debit card. We hope you enjoy the peace of mind that comes with knowing your card carries these state of the art security features. 

So, if you receive a call asking about a purchase made with your Credit Union debit card, please take a moment to talk to our fraud investigator to verify your debit card account activity.

IMPORTANT:
Our agents will never ask you to give your full account number over the phone - they already have that information. Recently scammers have been calling Visa and MasterCard holders and asking them for their 3-digit security code (found on the back of the card). Never give your full account information, PIN or 3-digit code to anyone who calls you on the phone or contacts you by email, no matter how legitimate the request may sound.

Please let us know if you're planning to travel, since a transaction in an area where you don't usually use your card may trigger the system.  If you experience any problems using your card while you're away, call us at:

DEBIT OR ATM CARDS
Lost or Stolen:  (800) 554-8969
Lost or Stolen Visa Card:  (800) 991-4964
During Business Hours Call (714) 536-6517

How does fraud detection work?

To help keep your money and your personal information safe, the HBCECU employs a system designed using the latest “neural network” technology that actually learns your debit card purchase patterns.  The system analyzes authorization requests for your card in real time and compares them to your purchase history as well as current fraud trends.  If we detect abnormal transaction patterns, we can take immediate action to reduce the potential of continued fraud.  And as your profile and transactions change over time, the Falcon system updates its files with every new transaction. 

Abnormal transaction patterns might include:
• A sudden string of costly purchases.
• A sudden change in locale (such as a U.S.-issued card used overseas).
• Any pattern associated with new fraud trends around the world.

If this security feature can’t verify that such activity was authorized by the cardholder, it may restrict the card to prevent further risk.
To help us verify such activity on your card, please keep us informed of your correct phone number and address at all times.
And, if your card is restricted to protect you from fraud, call us for details.

The HBCECU is committed to keeping your financial transactions as secure as possible.  Our systems are endorsed by CUNA Mutual Group, the bond coverage underwriter for many credit unions including the HBCECU, as an effective tool in deterring fraudulent debit card use.

 

     
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