CheckFree Unveils Automated FraudDetection
ATLANTA - (11/09/05) -- CheckFree said Tuesday it islaunching a new automated system to prevent and detect online fraudin the electronic bill payment process. CheckFree's FraudNet issupported by Actimize Inc.'s analytic technology. The systemcombines CheckFree's knowledge of payment patterns and asophisticated analytics engine to help credit unions and banks andtheir customers detect and stop unauthorized payments before theyare completed. The Actimize analytics engine issues alerts whensuspicious transactions or fraud patterns are detected. CheckFreeFraudNet monitors every bill payment transaction that appears onconsumers' accounts at credit unions and banks and matches themagainst pre-established rules developed throughexperience.