Falcon swoops in international war on fraud

According to Visa, card fraud is growing faster in the EU than any other part of the world. A report from the European Commission showed illegal transactions reached $553m last year - a 50 per cent growth over the previous 12 months.

HNC's Falcon uses a neural network-based system to examine cardholder behaviour and merchant data to detect and predict fraudulent transactions.

Falcon Quick Track is designed specifically for the international market, integrating multiple currencies and processing systems.

The release is part of a concerted push by the US company into the European market.