My eyes started bulging yesterday (and for all the wrong reasons -Ed) when I heard that Barclaycard is to by-pass its fraud checks for cardholders going on holiday and who notify the company of their travel plans.
Yeah right. What they're really going to do is to raise the bar on those transactions it logs as suspicious, since it can do so, safe in the knowledge that the cardholder is in the foreign country in question.
Of course, some countries have a higher fraud risk than others, notably in the Far East, where card cloning of Western tourists remains a popular pastime amongst the criminal fraternity.
I doubt very much that Barclaycard will stop its complex fraud profiling using a neural network approach, based on cardholder behaviour history and a whole host of complex models plus fraud algorithms.
Which leads me to conclude that Barclaycard's announcement is a publicity move to encourage cardholders to notify the company of their travel plans (which is good), as well as generate some free advertising for Barclaycard (which is not so good - unless you happen to be Barclaycard -Ed)...