A Collaborative tool to prevent fraudulent usage of financial cards

Gitau, Wilson Ndungi
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Strathmore University
Technology usage has advanced a great deal in banking and telecommunication sectors. With the continuous improving infrastructures in information technology, new technological dimensions have been opened up to ease processes in these sectors, for example people do not travel to pass communication, to shop and in banking people do not necessarily walk in to the banks to facilitate their financial transactions. Despite this advancement there are dire consequences of possible fraud or crime when we lose our banking identity documents and financial cards. Compromised, lost and stolen credit cards, debit cards, SIM cards, identity cards can be used in crimes. Due to vast adoption of this technology it has increased the surface of this kinds of crime, thereby causing financial loses and posing a challenge when tracking and preventing fraudulent events of the compromised financial cards. This study proposes and implements a system that: prevents fraudulent usage of compromised and lost financial identity items. These items include credit cards, debit cards, and SIM cards. The system will work towards assisting the authorities in investigating crime caused by financial cards. The system provides a blacklist API to the card industry, banking, merchant’s systems and individuals to back-list lost financial identity cards, an alert interfaces that reports usage of blacklist financial cards and a comprehensive reporting tool that helps in investigation of the crime. Agile methodology was adopted as the software methodology for the solution development. A prototype was developed to test the proposed solution. The system was populated with the relevant sample data for evaluation and validation.
Thesis submitted in partial fulfillment of the requirements for the Degree of Master of Science in Information Systems Security (MSc.ISS) at Strathmore University
Fraud, Crime., Debit Card, Credit Card, API