Comments of GE Capital/Montgomery Ward CRT Concerning Database Workshop - P974806
April 11, 1997
Janine Movish - 913/676-4112 GE Capital
Credit card issuers in general are faced today with increasing losses due to:
On-line databases are considered legitimate and useful for locating individuals who:
Purposefully move in order to "run away"
It is essential to the credit industry that access to these databases continue and that the depth and scope of the information not be compromised.
In our 20+ years of experience with credit cards and the prevention and investigation of fraud, on-line databases have continuously evolved and have assisted in locating fraud victims.
These same databases have also helped to identify perpetrators of fraud and to confirm fraudulent addresses. By locating criminals, we are able to update our internal databases, thus preventing additional fraud losses.
These databases are a useful tool, but with anything else, unethical employees within any company could utilize the on-line information for his/her own personal gain. If the database providers are going to continue to market their products for professional purposes, then tracking mechanisms and exception reporting must be developed by the providers in order to identify individual users who may be utilizing their access by compromising unknowing consumers.