Fraud Monitoring Service Bureau Clause Samples

Fraud Monitoring Service Bureau. Bank shall provide the following fraud monitoring services (collectively, the “Fraud Monitoring Services”) to Company: (1) Bank will use reasonable commercial efforts to process transactions conducted with an off-line debit card through the Base 24 PRM neural fraud management system and related software (“Fraud Monitoring System”). Such transactions include: (a) all pre-authorizations processed through the VISA or MasterCard system; (b) all international completions under five hundred dollars ($500) which are processed through the VISA and MasterCard system; and (c) if Bank also provides ATM authorization processing, all ATM transactions (including balance inquiries, withdrawals, deposits, denials and transfers). All transactions processed through the Fraud Monitoring System will receive a “score” that will predict the likelihood that the transaction is fraudulent. Bank shall determine a score level for the transactions, at or above which Bank will provide Fraud Monitoring Services to Company regarding transactions that score at or above the score level. (2) Bank will use reasonable commercial efforts to notify Company, via facsimile (sent to a number provided by Company to Bank for purpose of Fraud Monitoring Servicing), of any transaction that scores at or above the score level. Each such notification shall be referred to as a “Fraud Alert” and will consist of a facsimile cover page and a printout of the alert screen generated by the Fraud Management System. Fraud Alerts will be sent to Company on an hourly basis. A facsimile confirmation report showing the facsimile sent and received will constitute a completed notification to the Company of a Fraud Alert regarding any transaction that scores at or above the score level. (3) Bank will use reasonable commercial efforts to provide Company on a weekly basis with a report summarizing the prior weeks activity, including the total number of Fraud Alert notifications for the prior week and the total dollar amount of the transactions for which such Fraud Alert notifications were provided during the prior week. (4) Bank will provide the Fraud Monitoring Services described in Section 3(a)(l) through (3) above only between the hours of 9:00 a.m. through 9:00 p.m. Pittsburgh, Pennsylvania time on each Business Day, or at such other time or times as Bank may designate from time to time in a written notice to Company. Bank will not be obligated to provide Fraud Monitoring Services to Company at any other time. Bank’s...
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