Lloyds customers to be alerted to suspicious transaction by phone alert

A scheme has recently been launched by Lloyds TSB Bank that will enable those that may have fallen victim to fraudulent activity to be alerted to the situation by phone alert. The process being used by Lloyds TSB is called First Alert, and will enable those that may have fallen victim to this type of activity to be alerted quickly and efficiently by phone. The system works along with fraud detection systems and makes an automatic call to the consumer if there is any suspicion that dodgy activity has been taking place with their account.

When they receive the phone call, consumers will have to confirm certain details and will be told about the suspected suspicious transaction in order for them to confirm whether they knew about it or not. Those that do not recognize the transaction will be able to discuss the matter with staff to ensure that the account can be frozen or that steps can be taken to ensure that no further fraudulent activity takes place.

According to one Lloyds TSB official: 'First Alert will enable us to spot fraud more quickly so we can put things right for customers faster than ever before. The system proved a huge success on credit cards and by extending it to our debit card customers we're planning to crack down further on card fraud. We're constantly developing and launching new technologies to fight fraud on every front, and the expansion of our 'First Alert' system to debit cards, will be a real asset.'

There has been a significant rise in card not present card fraud, and the move by Lloyds hopes to be able to cut down on this type of fraud by raising the alarm quickly and efficiently in the event that anything looks amiss on the customer's account.

Tom Smith
11th May 2007