Charlie Unveils FraudShield: A Revolutionary Fraud Protection Suite for Seniors

Published 4 months ago

Today, Charlie, a pioneer in banking services specifically tailored for individuals aged 62 and older, launched FraudShield. This comprehensive suite of anti-fraud tools has been explicitly designed to cater to the unique needs of older Americans.

A New Era in Fraud Protection

FraudShield, which is completely free for all Charlie customers, leverages the static habits, patterns, and preferences of older Americans to fortify their financial security. With an estimated $28 billion pilfered from older Americans each year, Charlie’s introduction of these anti-fraud mechanisms could be a significant turning point in the battle against financial fraud.

According to Kevin Nazemi, co-founder and CEO of Charlie, the suite includes features such as online limits, Co-Pilot, and personalized homepages to ensure a safe and secure banking experience for seniors. These tools empower older Americans to enjoy financial security without sacrificing their independence or privacy.

Features of FraudShield

The FraudShield suite includes a range of advanced tools:

  • Sleep Mode: This feature allows the Charlie card to ‘go to sleep’ when not in use, blocking unexpected transactions.

  • Online and International Limits: Clients can block all online transactions or only permit transactions from specific merchants. International transactions are also blocked by default.

  • Spend Limits: Customers can set a maximum daily amount for card and ATM withdrawals.

  • Transaction Notifications: Charlie provides real-time notifications for all account transactions.

  • Transaction Transparency: All transaction descriptions are simplified and made clear for customers.

  • Smart Alerts and Suggestions: The system alerts customers about unusual bill changes and offers protective suggestions based on spending activity and fraud patterns.

  • Fraud Alerts Co-Pilot: Customers can add a trusted family member to receive important alerts without granting them access to account information or transaction details.

  • Personal Security Photo: Customers can upload a personal photo for added security when logging into their account.

  • Fraud Email Review: Customers can forward suspicious-looking emails for review by a real human within 24 hours.

  • CallSync: Real-time notifications are provided in the Charlie app when the company needs to contact a customer.

  • Free NortonLifeLock Subscription: All Charlie customers receive a free NortonLifeLock™ identity and credit monitoring subscription as part of their Charlie Visa® Debit Card benefits.

Charlie, which was launched in May 2023, continues to innovate in the field of financial services for older Americans. With the introduction of FraudShield, it is taking a significant stride towards ensuring the financial security of seniors.

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