    |
||
Copyright © 2010 Finsphere Corporation | Patents Pending | All rights reserved.
|
|
What does PinPoint do?PinPoint monitors your credit and debit card accounts every day for signs of fraud. There are many dimensions to our expert analysis and PinPoint uses several pieces of information to detect high-risk transactions, including:
All of these elements are important in determining whether or not a transaction is high-risk. PinPoint is unique because we compare the location of your cell phone with the location of your transactions to help monitor for fraud. However, this is not the only dimension to our analysis. We use other data like merchant type and purchase history to better detect fraud and help reduce false alerts. Accordingly, you should be aware that merely forgetting your phone at home while buying milk at the grocery store will not necessarily trigger an alert. Our balanced analysis works smarter and will only notify you if the transaction is suspicious or outside your 'norm'. Doesn’t my bank monitor for fraud?Banks only detect approximately 35% of fraud on existing card accounts. The rest of the time the banks expect you, the consumer, to let them know about unwanted transactions on your account. On average, less than 1% of all bank transactions are reviewed in-depth by your bank. If you have unwanted transactions on your account and they are not reported in a timely manner, you may get stuck paying for them. You miss it, you pay! Am I liable for fraud on my credit card?You're only protected from fraud on your credit card if you catch it. You can't dispute what you don't know and considering that banks only catch 35% of fraud, the odds are not in your favor. The most common type of credit card fraud is not huge purchases that stick out, but small purchases made a few times per month that blend into the rest of your transactions. More often than not, these transactions go unnoticed and you pay the balance unknowingly. You are liable for all of these transactions once you have paid. How liable am I for fraud on my debit card?The law states that if you report fraud on your debit card within 2 days of the transaction, you are only liable for up to $50. If you report the fraud between 2 and 60 days, you can be held liable for up to $500. And if you don't catch the fraud for more than 60 days, you can be liable for the full amount of the fraudulent purchases. Not to mention that banks don't catch 64% of fraud that occurs so if you're not looking at your transactions every day, you may completely miss fraudulent transactions and never report them. What do I get with PinPoint Free?
What do I get with PinPoint Advanced?
What cell phone carriers support PinPoint location analysis?
You may opt into PinPoint location analysis in the following ways: o AT&T, Verizon Wireless, Sprint and T-Mobile subscribers: You may opt in to PinPoint location analysis by responding ‘Y’ or ‘Yes’ to the text message you receive stating PinPoint wants to locate you. o iPhone or Android smartphones users for all carriers: Regardless of your cell phone carrier, you may opt in to PinPoint location analysis by downloading the PinPoint Fraud Detector iPhone or Android app from the iTunes App Store or Android Market respectively. For all other users, although we cannot include mobile location as part of our transaction monitoring, PinPoint will still monitor your accounts for fraud on the other dimensions of our PinPoint analysis, such as transaction amount and purchase patterns.
What cell phone carriers support SMS with PinPoint?
PinPoint SMS alerts are supported by the 4 major US cell phone carriers: AT&T, Verizon, Sprint, and T-Mobile.
I already use a credit monitoring service, do I still need PinPoint?Absolutely. PinPoint compliments and improves the existing coverage provided by credit monitoring services. PinPoint is a transaction monitoring service that provides expert daily analysis of your financial transactions and alerts you if we think someone else is using your accounts. PinPoint is a great add-on to existing credit monitoring services because with PinPoint and our expert daily analysis, your identity is fully covered. What is “existing account” fraud?Existing account fraud makes up 61% of all identity theft that occurs worldwide and happens when an individual steals your credit card, debit card, or bank account information and uses that information to buy something or transfer your money into their bank accounts. It’s called “existing account” fraud because the criminal activity involves cards and accounts that are in use. Does PinPoint work with all banks?PinPoint is connected to the top credit card and debit card issuers in the United States. Our technology partner, Yodlee, covers the majority of the largest banks in major markets such as the United States. We are able to connect to the majority of cell phones and credit and debit card issuers in the US. If you find that your cell phone carrier or financial institution is not listed, contact us at marketing@pinpoint-fraud.com to request that it be added.
Does PinPoint cover all of my accounts, or just checking?PinPoint supports credit cards, debit cards, savings accounts, checking accounts, and any other transaction-based account that you use. We are able to connect to the majority of cell phones and credit and debit card issuers in the US. If you find that your cell phone carrier or financial institution is not listed, contact us at marketing@pinpoint-fraud.com to request that it be added. Do I need GPS on my phone?No. PinPoint is a network and location-based service provider so any phone on a supported network can be located. Does PinPoint work if my phone is turned off?Yes. We highly recommend that you keep your cell phone on and with you at all times; however, your location is not the only element used in our precision analytics system to trigger alerts and detect high risk transactions so we can continue to monitor your accounts, even if your phone is turned off. What do I do if I get an alert?If you receive an alert from PinPoint, it means that we have deemed a transaction risky – possibly fraud. Within the message we will lay out the details of the incident and provide your bank’s customer service or fraud prevention phone number as well as give you a link to the fraud prevention tips section of our website. If you would like some expert help while dealing with the fraud, PinPoint users can also call the PinPoint Hotline and receive detailed insight and guidance on how to handle the situation to ensure the issue is quickly resolved and your cards are working again ASAP. What is the PinPoint Hotline?The PinPoint Hotline gives you access to fraud experts with more than 60 years of experience in the industry. If you receive an alert on your phone or just want to learn more about fraud prevention, call the PinPoint Hotline to speak with one of our specialists. We will take you through the steps of reporting and fighting fraud and dedicate our time and energy to ensuring that the situation is remedied. Do I have to have online banking?Yes. You have to have online banking to use this product. But part of PinPoint 's value is that we gather all of your accounts into one centralized dashboard. This feature gives you the ability to track your account activity like online banking, but it saves you time and energy while keeping an eye on your financial activities because you don’t have to jump from one bank’s site to another. Where do you get my account information?When signing up you provide our system with the username and password to your online banking profile and our partner, Yodlee, will contact your bank using a secure connection to verify that the information is accurate. If we have the correct information, your bank will begin sending your transaction information within 24 hours and PinPoint will begin to monitor your transactions. What are your security measures?Protecting your identity and your finances is our line of work and we take it very seriously. This includes defending against criminal acts as well as internal security breaches. Accordingly, we do not store ANY of your banking information or login credentials within our systems...ever. We use Yodlee, the world leader in comprehensive banking applications, to communicate with your bank and verify your account. This communication has multiple levels of encryption and is protected to the highest level. After they communicate with your bank, the information is erased and not stored on their systems either. How often will PinPoint review my transactions?After registering your accounts with PinPoint your transactions will be analyzed on a continuous basis, every day. The benefit is that you, the consumer, will be notified daily of any activity that may be questionable. You will then have the opportunity to react before waiting for your statement, saving you money and the headache that goes along with sorting out fraud after you have paid your balance. Is there a lag time between when my transactions take place and when they are analyzed?Yes. Banks usually take between 24 and 48 hours to crosscheck your transactions and post them to your online statement. PinPoint can only analyze transactions that have been verified by the bank and posted, so there can be up to a two day lag between the transaction and PinPoint's analysis. Because of our innovative Back-Date Technology, we can compare your cell phone location to the transaction location, even if the transaction occurred two days ago. We are making these comparisons every day, giving you the quickest warning possible and allowing you to address the fraudulent issue weeks before your statement is sent to you. |