TrueCards™ in Action

TrueCards™ is the only package that allows financial institutions to independently test for fraud within their own plastic card portfolios. In the summer of 2006, Allegacy Federal Credit Union was experiencing plastic card fraud at an alarming rate. This fraud was being perpetrated against the credit union prior to a CAMS report notice. With TrueCards™, Allegacy was able to independently identify the common point of compromise, the time frame of the compromise, and all of the cards that were at risk. TrueCards™ identified that the compromise involved over 2200 cards with an average loss of $900 per card. Monitoring of these cards showed the credit union saved $110,000 and stopped a potential loss of over two million dollars. During the time Allegacy Federal Credit Union was blocking their cards, a CAMS report was issued. With TrueCards™, Allegacy Federal Credit Union identified the point of compromise two weeks before the Visa alert and had a confirmed documented savings of $110,000 from this one compromise.