Mastercard expands AI technology to help banks detect scams as they happen
3 months ago

Mastercard expands AI technology to help banks detect scams as they happen

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Since early 2023, the Mastercard scheme has helped UK banks identify and stop potentially fraudulent payments before the funds leave the victim’s account. Mastercard said the consumer fraud risk service has been extended to receiving banks so it can help them to detect when a payment may be destined for an account used by fraudsters. Initial tests of the additional “inbound risk” alerts have seen improvements in the ability to identify high-risk mule accounts early, within the base of bank accounts, Mastercard said. Johan Gerber, executive vice-president for security solutions at Mastercard, said banks are being provided with “additional lines of defence – helping them better identify and stop scams in their tracks”.

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History of this topic

Mastercard wants to get rid of card numbers for online shopping
3 months, 3 weeks ago

Mastercard wants to get rid of card numbers for online shopping

Live Mint  

-- Mastercard Inc. is expanding its efforts to eliminate the use of credit card numbers when customers make purchases online in a bid to fight fraud. A decade after it first unveiled a technology that replaces consumers’ card numbers with so-called tokens, the company is now processing 1 billion such transactions every week, Chief Executive Officer Michael Miebach said in …

Mastercard Wants to Get Rid of Card Numbers for Online Shopping
3 months, 3 weeks ago

Mastercard Wants to Get Rid of Card Numbers for Online Shopping

Live Mint  

-- Mastercard Inc. is expanding its efforts to eliminate the use of credit card numbers when customers make purchases online in a bid to fight fraud. A decade after it first unveiled a technology that replaces consumers’ card numbers with so-called tokens, the company is now processing 1 billion such transactions every week, Chief Executive Officer Michael Miebach said in …

Mastercard expects to find compromised cards quicker using AI
7 months ago

Mastercard expects to find compromised cards quicker using AI

Associated Press  

NEW YORK — Mastercard said Wednesday that it expects to be able to discover that your credit or debit card number has been compromised well before it ends up in the hands of a cybercriminal. AP AUDIO: Using AI, Mastercard expects to find compromised cards quicker, before they get used by criminals AP correspondent Donna Warder reports on efforts to …

Using AI, Mastercard expects to find compromised cards quicker, before they get used by criminals
7 months ago

Using AI, Mastercard expects to find compromised cards quicker, before they get used by criminals

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mastercard, which is based in Purchase, New York, says …

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