Prepaid cards have made cashless payments possible worldwide, presenting opportunities for both retailers and consumers and offering new ways for businesses to pay employees securely. But they are also highly susceptible to fraud.
According to a recent Federal Trade Commission Report, prepaid gift card fraud accounted for $103 million in losses in 2019, and this number will continue to grow. This type of cybercriminal activity happens fast – and once it does, it’s already too late. Card issuers that can detect and prevent these attacks before they occur are at an advantage in the marketplace.
In this checklist you’ll learn:
- how to configure your data systems to detect fraud before losses occur
- what types of information your agents need to access