HooYu targets bank card fraud with new Card Check service
Identity verification and AML firm aims to go beyond standard checks with new functionality
HooYu has launched a new Card Check service, which aims to add an additional layer of security to existing AML controls on banking transactions.
Under the new function, customers are required to prove that they are in possession of the correct payment card when withdrawals are made from accounts.
HooYu then checks the card number and card holder name against the cards that were used to deposit, without retaining or compromising sensitive information.
Card Check works to prove that the withdrawal of funds during pay-out is going to the real customer and to prevent bad actors from account takeover and stealing customer winnings.
HooYu already operates the HooYu Identify service and in January, the firm debuted a slew of new user interface (UI) and user experience (UX) tools for operators to use when conducting KYC checks on new registrations to gambling sites.
“Our clients asked us if we could extend the HooYu journey to payment cards to reduce manual overhead checking at pay out and increase AML controls,” HooYu marketing director David Pope said.
“This new journey speeds up the pay-out process and saves operators many man hours checking that pay outs are being sent to the right card,” he added.