Consumer Payment Card News

MoneyGram's Fraud Software

Rest-assured when sending money through MoneyGram International. The remittance and money-transfer giant’s tailored software system has proved its worth in combating fraud over the past year. Since its introduction in May 2010, it has prevented thousands of fraudulent transactions and saving its customers about $22.5 million. Need proof? Your fraud complaints in January 2011 paled to that of January 2010, dropping 72%, with the most significant reductions in Canada, Nigeria, the United States, and the United Kingdom. Meanwhile, for the first two months of 2011 alone, MoneyGram identified and interrupted 2,200 transactions suspected of fraud, saving you from losing more than $7 million.

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