Fraud Detection

CardWorld FraudTrap is a real-time monitoring system that identifies and prevents fraudulent activity on bank-issued cards before they get authorised

Fraud is a costly business for any bank, not only in fraud prevention and investigation costs but also in loss of card revenue when the card is inactive. Over 30% of customers affected by fraud will close their account with the bank involved irrespective of who is at fault. CR2 has designed CardWorld FraudTrap to identify and prevent any fraudulent transaction before they are ever authorised.

CR2 uses innovative multi-channel features to ensure the highest level of security for customers such as one time passcodes, multi-factor authentication, account activity notification and card on/off control. These anti-fraud measures give customers greater control as well as peace of mind. BankWorld Cards are EMV, 3DES and PCI compliant.

CardWorld FraudTrap

CardWorld FraudTrap is a real-time monitoring system that enables you to identify and prevent fraudulent activity on bank-issued cards. The solution uses a sophisticated rules engine that will stop a fraudulent transaction before it gets authorized by your own card management system, protecting your customers from fraudsters.

CardWorld FraudTrap allows your bank to decline suspected fraudulent transactions and amend card status to ensure that any further fraud attempted in the future is dealt with immediately. A sophisticated set of rules is used to detect and prevent fraud at the earliest possible moment. 

With CardWorld FraudTrap, you can define rules which go beyond individual transactions and check for fraudulent activity in sophisticated transaction patterns. For example, you can define one rule checking for card usage within 3 different countries, and a second rule checking for multiple high-value transactions in a given period. Rule scores are then combined to calculate the final risk score.

CardWorld FraudTrap is fully integrated with CR2’s Card Management System and can also work with transactional data from other third party card systems.


  • Benefits
  • Features
    • Reduce the cost of fraud to your bank
    • Strengthen the customers trust with your bank
    • Position your bank on its strong anti-fraud measures
    • Real-time Prevention : Decline transaction, card status, notify status 
    • Real-time Alerts 
    • Configurable Rules
    • Sample Rules available out of the box based on Visa Issuer Monitoring Transaction Standards (CEMEA). 
    • Simulation Mode to test the rules
    • Transaction History 
    • Simple Interfacing

Additionnal anti fraud measures:

  • One time passwords – Customers can choose to enable verification through one-time passwords for all card activity on ATM, POS and Internet transactions. A one-time password is sent through SMS to the customer’s mobile phone which they will need to validate the transaction they wish to make.
  • Card on/off control – Customers can deactivate their card when they do not intend to use it and reactivate it again whenever they need to. If the card is switched off, the customer can be safe in the knowledge that it cannot be used.
  • Transaction notifications – Post-transaction SMS notifications give customers peace of mind about their account and the knowledge that if their card is used, they will be alerted. The customer is made aware of every self-service transaction made on their accounts (ATM, Internet, POS and Mobile).