* Posts by David Ryan

1 publicly visible post • joined 28 Oct 2010

Credit card 'flash attack' steals up to $500,000 a month

David Ryan

Simply fraud detection and notification.

Whilst I have encountered automated detection and response from at least three credit card houses, the same systems may not be in place at all organisations.

One simple solution is to offload your fraud detection to the end user: sms/email/pigeon/whatever alert for each transaction or when transaction amount/volumen exceeds a defined threshold (i.e. advise me when X amount has been spent within Y period or when Z amount has been surpassed in any single transaction).

Much like chip and pin, the banks could then push the responsibility of fraud notification onto the end user. WIN!