October 12, 2010
Fraud dectection analytic identifies ATM rip-offs
Advanced software monitors video, data
In response to continuing global losses from credit card fraud and electronic crime at ATMs, which cost banks over $1 billion annually, March Networks has introduced its innovative March Networks Searchlight Skimming Detection (SD) application.
March Networks Searchlight SD is the industry's first data analytic able to actively alert banks to potential crimes at ATMs. It uses advanced software to monitor ATM video and transaction data simultaneously and alert investigators to suspicious and potentially fraudulent activity, such as the installation of illegal card skimming devices or cash "harvesting" at an ATM using multiple stolen cards. March Networks Searchlight SD offers more than 50 customizable search parameters and a web-based dashboard that provides investigators with daily, filtered updates that would typically take days to assemble. It enables banks to increase their fraud detection and reaction rates and improve investigation productivity dramatically, when used as part of March Networks' comprehensive solution.
"Our Financial Solutions deliver a measureable ROI by layering innovative fraud detection and prevention applications on top of our highly-reliable video surveillance and enterprise-class management," said Paul Novak, March Networks General Manager, Global Financial Solutions. "We are pleased to introduce these new capabilities to our proven portfolio and look forward to working with our certified partners to demonstrate their benefits to financial customers worldwide."
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