BillGuard — a consumer analytics start-up that offers fraud alerts to consumers — recently launched a data breach alert feature to its users.
Already the company has flagged more than a million in fraudulent charges that banks missed in the wake of the Target breach, according to the company’s chief executive, Yaron Samid. The company also unveiled new Android smartphone software.
From an email:
BillGuard found over $1M in fraudulent charges (not grey) that the banks missed since the Target breach. I can name the banks by % fraud found and provide examples of the fraud. Crowdsourced post-transaction monitoring works were bank anti fraud tech fails. Banks catch about 1/3 of fraud preemptively, cardholders have to catch the rest on their own after it posts to their cards.
Some background from an April 2013 story: