FICO has joined forces with Jersey Telecom (JT) and several major U.K. banks to tackle the growing issue of push payment scams. These scams occur when fraudsters deceive victims into making payments via their mobile devices. According to a press release, the partnership leverages telephony, customer, and payment data to enhance fraud detection.
JT collaborated with the Global System for Mobile Communications Association and U.K. Mobile Network Operators to identify behavioral patterns in customer mobile usage that signal potential fraud. As a result, JT created a new tool called Scam Signal, designed to analyze network, customer, and payment data for detecting fraud attempts. This tool will enable banks to reach out to customers through the FICO Customer Communications Service.
Adam Davies, FICO’s Vice President of Product Management, explained, “The integration of Scam Signal within the FICO Customer Communications Service allows banks to present customers with personalized, omni-channel messages that counteract the scammers’ influence during high-risk activities.” These messages can adapt in real-time to customer interactions. For instance, if a customer hesitates while making a payment, the system can send additional prompts or offer options such as delaying the transaction or connecting them with a fraud prevention specialist.
Amar Gandhi, spokesperson for the Sacramento Sheriff’s Office, praised the collaboration, stating, “Great communication from the bank, great video surveillance that quickly provided real-time information, and a swift response from the deputies all contributed to combating this issue effectively.”