UK banking group Lloyds TSB is introducing an automated telephone alert system that will warn customers of suspicious debit card transactions on their current accounts.
Lloyds TSB says its customers will receive an automated phone call if a potential fraudulent transaction is detected on their account.
The message customers hear will ask them if they recognise the transaction in question. If the customer thinks fraud has taken place they will be transferred to a call handler who will then freeze the account and organise a refund. Where customers recognise the transaction, they will be able to confirm it is genuine and end the call.
The service is based on the First Alert developed by Adeptra which works alongside Lloyds TSB's fraud detection systems, automatically calling customers, whenever and wherever card fraud is suspected on their account.
The system has been in use for the bank's credit card customers since 2005 and is now being extended to cover all debit card customers.
Lloyds TSB says the system will help clamp down on card not present fraud - where card details are used fraudulently over the phone, online or for mail order purchases - and counterfeit fraud, where card magnetic stripe details are copied onto cloned cards before being used.