MasterCard - which operates the Maestro/Cirrus networks - has announced a new anti-fraud service for card issuers that analyses transactions as they are processed through ATMs and online EFTPOS systems.
Whilst analysis of the latter is nothing new, MasterCard claims its system is a first for ATMs.
The system, which is being developed by MasterCard in conjunction with BasePoint Analytics, is planned for introduction to MasterCard card issuers worldwide in the first quarter of 2007.
MasterCard says its Online Fraud Monitor service will use a proprietary risk-scoring model that will look at factors such as account spending, transaction histories and device-level activity to calculate the likelihood of fraud on an individual ATM transaction.
For instance, the company says, if a card that in the past has been used only domestically were to be used in a large transaction in a foreign country, the transaction would automatically be flagged as high-risk.
All interesting stuff - I wonder how long before the system stops me from using my debit card to draw cash in the local boozer's ATM?...