Mastercard says banks and shops should strengthen the fraud defenses they already have against attacks aimed at specific cardholders. Here is what that means.
Mastercard has published guidance on how banks and merchants can better protect against targeted card fraud. The core advice is simple: strengthen the defenses already in place rather than start from scratch. The guidance is aimed mainly at banks, card issuers and businesses that accept card payments.
Most people picture card fraud as thieves trying random card numbers. Targeted fraud is different. It goes after specific accounts or specific cardholders. That can make it harder to spot, because the attacker is not guessing blindly.
The guidance speaks to banks, card issuers and merchants. Those are the groups that approve payments and run the checks behind them. Everyday cardholders are the people the fraud ultimately aims at, so they benefit when those checks work well.
If your business takes card payments or runs a business account, the practical step is to review the fraud checks you have now. Then ask your payment provider or bank what extra protection it offers.
The full text of the Mastercard guidance was not available for this report. Specific steps, tools, costs and timelines are not known here. Readers who want details should read the original piece from Mastercard or ask their bank or payment provider directly.
If you take card payments or run a business account, review your current fraud checks and ask your provider what extra protection it offers.
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