Fact
The Fraudulent Activity Communication Tool
FACT enables merchants and issuing banks to alert each other in case of suspicious transactions, and present confirmed fraud cases to law enforcement.
FACT was originally designed to facilitate the communication between merchants, card schemes and law enforcement agencies all around the world during the Global Airport Action Days, organized by Europol. Answering the heavy demand following these successful actions to continue this way of cooperation as a business-as-usual process, the tool is now open for daily usage.
Current situation
When a merchant contacts the issuer to verify a suspicious transaction, both parties benefit. However, a variety of issues rise in the current set-up:
The merchant can’t identify who the issuer of the card is
The merchant can’t find the right contact at the bank
The issuer can’t verify the merchant's identity
The issuer isn’t presented with the right information to investigate
The issuer isn’t allowed to provide the merchant with information
It's very challenging to build a solid case for Law Enforcement
- In sum, the whole process is time consuming and confirmation is often too late -
Solution FACT
Issuer can indicate the team's availability to handle cases
FACT auto-fills a verification request with the required information
No IT-development needed: requests are send in a simple
e-mail format
FACT sends request to the right bank & contact based on the BIN range
Issuer can reply with 1 click in-mail or by logging on to online platform
FACT enables cooperation with Law Enforcement Agencies
Fact is available for all devices
request information package
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