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6 Key Signs of Card Fraud

Fintech companies reveal the biggest signs of suspicious activity, including time of day and location.

By Tina Orem | Updated on October 21, 2015

Card fraud comes in a variety of shapes and sizes, but recent data from two fintech companies that track it in real time revealed some statistical red flags that could prompt credit unions and other issuers to take a closer look at certain transactions.

1. It’s 3 a.m. on a Tuesday. Using customer data from August 2014 to August 2015, the San Francisco-based analytics company Sift Science looked at a sample of 1.3 million transactions with U.S. shipping or billing addresses and found that criminals are more likely to commit online fraud during the workweek. It also found that 3 a.m. is the “fraudiest” time of day, regardless of time zone.

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Tina Orem

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