Reductions in floor limits and Chip and Pin have played a major part, as has an electronic
hot card file which transmits details of lost or stolen cards to point-of-sale terminals.
It is quite a
hot card at Gowran with a classy handicap and the Listed Hurry Harriet the big-ticket contests.
These include the use of intelligent systems to spot fraud at an early stage, the introduction of
hot card files carrying details of lost and stolen cards, more secure methods for delivering cards, training retail staff and introducing reward schemes for shop staff who spot fraud.
And "
hot card" files have led to a drop in fraud after cards have been reported missing.
Transmitting
hot card lists by radio and TV to every retail counter will also become increasingly important.
Credit-card companies mail out advisories to destroy old cards, and patrons observe sales clerks scanning "
hot card" lists.
Also being developed by the card issuers is an electronic
hot card file capable of distributing details overnight of lost or stolen cards on a nation-wide basis.
Within seconds of Cardcast receiving notification of a
hot card, it is stored in every receiver in the country.