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Texas Dow Employees CU upgrades fraud security
LAKE JACKSON, Texas (7/16/10)--Texas Dow Employees CU (TDECU) in Lake Jackson, Texas, Tuesday unveiled an upgraded fraud system called “managed real time.” The system operates with existing fraud technology and searches for suspicious spending behavior based on debit card use, Ron Wright, TDECU vice president of payment systems, told the Victoria (Texas) Advocate (July 14). The transaction gets blocked and a call is placed to the accountholder to verify a purchase if it gets flagged by the system, Wright told the newspaper. The transaction will go through once the member’s permission is granted. The new system operates in concert with existing security measures, which are akin to a putting up a set of transaction hurdles--monitoring and blocking charges that differ from typical activity regarding the amount spent, the type of merchant and geographic location, Wright added. The upgrade follows two weeks of unauthorized charges showing up on a handful of accounts of TDECU debit card holders, Luke Billeri, TDECU regional vice president of payment systems, told the paper. Since the additional security has been implemented by the credit union’s credit card department, no additional security issues have arisen, Ron Wright, TDECU vice president of payment systems, told the paper.
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