To compensate for this American Express has utilized its Worldwide Network so that customers can hold their account currency in U.S. currency. This gives payments by customers living in other countries the same freedom as living in the U.S. Importance of Data Fraud . Not only are they below the average, but that percentage has been continually dropping since the network has gone online. It is the data of usual locations and dollar amounts that are i nstantaneously compared with previous data. If these sets of number are in conflict a notice is sent out and American Express can contact that customer to inquire about the suspicious activity.
Delinquent accounts are a major concern for credit issuers.
These accounts cost the industry almost as much as fraud every year. To combat this problem American Express is once again using the data complied on their Worldwide Network of computers. This system automatically compares the records of its customers to the increases of purchases to a decrease of payments. This system is allowing American Express to reduce the number of delinquent accounts before they start. In the long run this should prove to be a very profitable instrument in fighting delinquency.