In its client research, Neighborli has learned that many banks do not currently maintain an exception list which may include elements such as Suspicious Activity Reports (SARs), Date of Birth (DOB) mismatch, previous fraud at Financial Institution (FI), etc. Neighborli can create, manage and maintain this list to help banks to eliminate fraud across programs by notifying each program of potential risky cardholders. Those interviewed indicated that it is a best practice to maintain such a list so, at a minimum, fraud can be managed across that bank’s programs.
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