OMAHA, Neb. - ACI Worldwide Inc., which provides enterprise payment solutions, announced in a news release that its Proactive Risk Manager software helped an Australian bank detect the security breach at CardSystems Solution before any other financial institution.
National Australia Bank, an ACI Worldwide customer since 2000, is the Australian arm of the National Australia Bank Group. Australian Treasurer Peter Costello recently told Parliament that National Australia Bank was the first bank in the world to uncover the fraud.
"It was the NAB that uncovered this fraud out of all the domestic and international banks of the world and reported it to MasterCard and Visa in September 2004," said Costello.
In his report, Costello specifically highlighted the risk of the CardSystems breach to all Australians who had either traveled to the United States or used their credit cards to buy goods online from America.
National Australia Bank uses Proactive Risk Manager to score and monitor aspects of fraudulent activity involving lost, stolen or counterfeit cards as well as skimming and other types of fraud. The bank signed on with ACI in 2000 to protect itself from fraud. "Australia is not suffering significant amounts of credit card fraud, yet geographically we sit on the cusp of one of the major centers of fraud in Southeast Asia," said Derren Jones, who manages fraud operations for NAB.
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