Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Allegacy receives patent for card fraud measures
WINSTON SALEM, N.C. (10/13/11)--Allegacy FCU, a $928 million asset credit union in Winston-Salem, N.C., has been assigned a patent developed by Dean A. Adams, Winston-Salem, N.C., for a “bank card fraud detection and/or prevention methods.” The patent involves setting a threshold for card transaction frequencies--which if exceeded, could indicate potentially fraudulent card activity. The patent application was filed Dec. 13, 2007 (Targeted News Service Oct. 12). The abstract of the patent published by the U.S. Patent and Trademark Office states: “Bank card fraud detection and/or prevention methods can generally involve determining a common point of compromise and/or identifying merchants associated with bank card transaction frequencies which exceed a predetermined threshold value which is indicative of potentially fraudulent bank card activity. These methods can further involve identifying other bank cards used at the common point of compromise.”


RSS print
News Now LiveWire
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
9 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
17 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
18 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
21 hours ago
Wash. DFI discusses serving legal marijuana businesses with @NWCUA http://t.co/3kw79HJUYF
21 hours ago