Transaction monitoring: Real-time alerts for suspicious bank and credit card activity

What is transaction monitoring?

Transaction monitoring is the continuous, automated monitoring of bank and credit card accounts for unusual or unauthorized activity. If the system detects activity that falls outside of the user’s normal spending patterns, it then flags the activity as suspicious and alerts the account holder.

NordVPN’s transaction monitoring is a new feature currently being rolled out across NordVPN apps. It does the checking you don’t have time for and gives you the chance to take action if fraud is ever attempted against your linked accounts.

Why do you need transaction monitoring?

You need transaction monitoring if you want to feel safe knowing your bank account activity is being monitored for potential fraud and unauthorized activity. You also need transaction monitoring if you want to improve your online banking safety and saving habits and have better control over your expenses.

Transaction monitoring is a separate NordVPN feature, but you can think of it as an extension of the protection Dark Web Monitor Pro™ provides. Where Dark Web Monitor Pro™ sends dark web alerts if your credit or debit card details have been exposed online, transaction monitoring alerts you the moment those details are used to make unauthorized purchases or withdrawals — so you can lock or freeze your accounts to limit or prevent financial losses.

How NordVPN’s suspicious transaction monitoring works

NordVPN’s transaction monitoring reviews your transaction history and performs statistical analysis to build a baseline spending profile — basically a picture of normal activity to measure new transactions against. So when a new transaction falls outside that baseline, the system flags it and sends out an alert.

The way transaction monitoring works in steps:

1. 1.The user links their bank and credit card accounts to NordVPN through a secure platform integrated with their online banking portal.
2. 2.Transaction monitoring reviews transaction history and establishes a spending baseline. 
3. 3.Each new transaction is checked against that baseline.
4. 4.Unusual or suspicious activity triggers an immediate alert.
5. 5.The user reviews the alert and decides whether to take action.

How to set up transaction monitoring alerts in NordVPN

Transaction monitoring is part of the premium Monitor service tier, which includes Dark Web Monitor Pro™. To set it up:

1. 1.Log in to your Nord Account.
2. 2.Click “Dark Web Monitor” in the menu on the left-hand side.
3. 3.Once you are in the Monitor dashboard, select “Asset management” from the menu on the left.
4. 4.Navigate to the “Transaction monitoring” tab.
5. 5.Click “Add bank account.”
6. 6.Click “Connect with MX.”
7. 7.Select your financial institution, or use the search bar to look it up if it is not listed.
8. 8.Follow the login instructions. Typically, you will see a link that opens your bank’s online portal in a new tab.
9. 9.After you log in, select the bank accounts you want to add to transaction monitoring.
10. 10.When you see the bank accounts appear in the list of monitored assets, monitoring is enabled automatically. You can use the toggle to disable or re-enable the feature at any time.

Why monitoring your bank account transactions matters

Monitoring your bank account transactions matters for a few reasons, but identifying unauthorized charges early and preventing fraud are probably the two biggest.

Fraudsters are well aware that most people deprioritize tracking their bank account activity or don’t do it at all, and that leaves the door open for them to commit financial crime. 

But NordVPN’s transaction monitoring is your doorman. It watches your bank activity and alerts you when someone tries to walk through that door. So if anyone makes a move on your money, you will be the first to know — not the last.

And the sooner you find out about suspicious activity, the more you can do to protect your accounts and finances.

Common threats to your bank and card accounts

Several types of financial crime may be threats to your bank and credit card accounts:

• Credit card fraud. Stolen card details (usually obtained through fake or compromised websites as well as through insecure payment methods and data leaks) can be used by criminals to commit credit card fraud and make unauthorized purchases and withdrawals without the account holder’s knowledge.
• Card skimming. Physical devices installed on ATMs or payment terminals capture card details at the point of transaction, giving fraudsters access to account funds before the victim notices. Card skimming is particularly difficult to detect because it leaves no immediate trace.
• Scams and social engineering. Cybercriminals impersonate merchants and banks and government agencies to trick account holders into handing over login credentials or authorizing payment directly. Misleading free trials and hidden recurring charges are another means by which fraudsters threaten your finances.
• Authorized push payment fraud. Account holders are manipulated into transferring money directly to a criminal’s account, often under the pretense of a legitimate payment request. Authorized push payment fraud is particularly hard to reverse because the account holder initiates the transfer. Your best course of action is to contact your bank and ask if scammed money can be refunded.