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November 26, 2019
SAN RAFAEL, California — November 26, 2019 — Whenever people are buying more, it’s an opportunity for criminals to strike, which makes Black Friday a dangerous time. With new scams on the increase, FICO’s fraud experts have added new tips for staying safe, taking the total to 16.
Take Care at ATMs
Be Safe Online
Check Your Purchases
Work with Your Financial Institutions
Watch Out for Social Engineering
Don’t Become a Money Mule
Getting Smarter in the Fight Against Fraud
The good news is that financial institutions are doing more than ever to prevent fraud. “For example, if you’re using your credit or debit card to pay online, you may be sent a one-time passcode to your mobile phone that you need to enter into the browser window,” said Matt Cox, vice president of fraud solutions for Europe, the Middle East and Africa. “This extra security is a fraud prevention method intended to make sure that it’s really you making a payment. While it may seem inconvenient, you’ll be better protected if your card does fall into the hands of criminals.”
“FICO too is doing more than ever to help banks, card issuers, fintechs, merchants and others protect customers from fraud and financial crime,” notes Jason Keegan, vice president and general manager of the Fraud and Protection business at FICO. “We have made continual AI and machine learning innovations available in our FICO® Falcon® Platform, which protects more than 2.6 billion accounts worldwide. Last Black Friday we sent 2.3 million fraud alerts to banking customers using our FICO® Customer Communication Services. And we recently announced new FICO® Authentication Suite and FICO® Identity Proofing solutions to better make validate customer identities.”
Learn more about FICO fraud solutions at https://www.fico.com/en/solutions/fraud-compliance-and-cybersecurity.
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 195 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time. Learn more at https://www.fico.com.
FICO and Falcon are registered trademarks of Fair Isaac Corporation in the United States and in other countries.Media Contacts:
Greg Jawski for FICO
Phone: +1 212-601-8248
Europe, Middle East and Africa:
George Hood for FICO
Phone: 020 7661 1622
RICE for FICO
+65 3157 5680
Europe, Middle East & Africa
+44 (0) 209-940-8719
+1 786 482 7231
+55 11 5189-8258