(Minneapolis, Minnesota, USA) - Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today introduced the Fraud Alert Network Forum, an online community in which financial professionals share tips, techniques and experiences in dealing with increasingly sophisticated fraud schemes. The new forum (www.fraudalertnetwork.com), previously known as the CardAlert Fraud Forum, originally launched in 2002.
From counterfeit ATM cards and credit card fraud to "phishing" scams to consumer data theft, financial crimes have become highly inventive, and the perpetrators better organized. Fair Isaac created the Fraud Alert Network Forum to help financial institutions and law enforcement officials counter these trends through collaboration. It provides a secure environment in which members can discuss specific criminal attacks with the intent of learning from their peers how they manage similar incidents. Members can also alert each other to emerging fraud trends and share ways to mitigate losses.
"Financial institutions generally don't discuss their inner workings with competitors, but in the case of fraud and crime, communication and collaboration are invaluable," said Doug Clare, vice president, Fraud Solutions Product Management, Fair Isaac. "We see members of the Fraud Alert Network posting comments like 'I have been through this and here's how to fix it.' The level of dialogue is refreshing, and absolutely necessary in the face of mounting fraud activity."
The Fraud Alert Network Forum requires registration. Fair Isaac submits every applicant to a validation process to authenticate their identity prior to granting access. Membership is free for banking, credit union and law enforcement professionals.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) transforms business by making every decision count. Fair Isaac's Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with Fair Isaac to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. Fair Isaac also helps millions of individuals manage their credit health through the www.myFICO.com website.
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Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the company's Decision Management strategy, its ability to recruit and retain key technical and managerial personnel, the maintenance of its existing relationships and the ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, competition, regulatory changes applicable to the use of consumer credit and other data, the possibility that the anticipated benefits of acquisitions, including expected synergies will not be realized and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2007, and its quarterly report on Form 10-Q for the period ended June 30, 2008. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.
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