As seen in Capital One newsroom

According  to our recent study, the 2018 Capital OneⓇ Protection & Security Survey, more than half of the 1,000 U.S. residents  surveyed have experienced some kind of financial theft or fraud. Of those respondents who had experienced financial theft or fraud, 37 percent lost money  and 26 percent had a negative financial impact. Additionally, only 23 percent  of respondents feel confident in the safety and security of their personal  information online.

As  the world moves into an increasingly digital environment with more sensitive  information being shared online, the need for building fraud-detection tools  has only grown in importance. Fintechs and banks alike have been developing new  ways to build trusted relationships and help protect consumers from fraud in a  constantly evolving fraud environment.

“It’s  really about actively trying to detect fraud at the moment it occurs. With the development of new tools  and technology, there’s just a much greater opportunity now than there  used to be for consumers to stay  on top of their information, feel empowered to go after the issue and  resolve it,” said Sarah Strauss, Head of Fraud, U.S. Card at Capital One.

Over  the course of 2018, Capital One has expanded its suite of digital tools to help  quickly detect fraud and empower customers. These tools include:

CreditWiseⓇ from Capital One: This past July, CreditWise, a  credit monitoring tool, introduced  three new features to help users protect their credit and quickly detect fraud  for free, including a Social Security Number tracker, dual bureau credit alerts  and dark web surveillance. These dark web surveillance alerts have maintained  over a 90 percent helpfulness rating from users. Since launching these new  features, CreditWise has uncovered 1.5 million email addresses on the  dark web, helping users quickly identify signs of fraud.

Card  Lock: Card Lock instantly locks your card with a  few taps in the Capital One Mobile app if your card is ever misplaced, lost or  stolen.

EnoSM Fraud Alerts: Through Eno, Capital One’s AI-based intelligent assistant, customers are  provided with helpful alerts for potential fraud. These alerts are a  machine-learning powered solution, automatically alerting customers when we see  something suspicious. Eno also applies machine learning to refine our natural  language processing capabilities, allowing for a better customer experience.d. Thanks to these capabilities, we’ve significantly improved the number of suspicious activity  alerts that we can act upon – improving our success rate from 85 to 99 percent.

In  addition to these homegrown products and tools, we also continue to build our  bench of third-party products to help customers differentiate legitimate  transactions from potentially fraudulent ones. In some cases, customers do not  recognize legitimate purchases, because the merchants’ descriptors or purchase details aren’t clear. To help customers better recognize transactions, Capital  One will be rolling out a new technology solution from e-commerce technology  provider Ethoca.

Ethoca’s  Eliminator will give our U.S. credit card customers access to extended purchase  details. In customers’ online credit card statement and Capital One mobile app,  customers will see an option to request additional details about a transaction,  such as a digital receipt, to review. Ethoca merchant customers participating  in the program include some of the largest digital goods brands in the world.  By having rich transaction details available, customers can better recognize  their transactions, detect potential fraud, and enjoy a new level of clarity  about their purchases.

With  tools like Ethoca’s Eliminator, Eno Fraud Alerts, Card Lock and CreditWise,  Capital One is committed to building simple, human-centered, data-driven tools  to help people easily detect fraud for free so that they can improve their  financial lives.