MasterCard Launches Anti-Fraud Tools for Issuers

March 11, 2011

MasterCard Worldwide introduced its Expert Monitoring Compromised Account recently, which will provide its issuers turnkey fraud detection and prevention capabilities. MasterCard developed the Expert Monitoring Compromised Account Service to provide issuing banks with a comprehensive, real-time view of Account Data Compromise fraud risk during authorization. MasterCard said research it conducted shows that accounts exposed to an Account Data Compromise event are nearly three times more prone to fraud than non-exposed accounts. And, according to a 2010 Javelin Strategy and Research study, cardholders who receive a new card account as a result of an Account Data Compromise event often abandon the card or use it much less frequently. Wendy Murdock, chief payment system integrity officer for MasterCard Worldwide, said: “This is the first and only solution that provides a past, present and future view of Account Data Compromise fraud—leveraging intelligence from past Account Data Compromise events to prevent fraud on exposed accounts in the present during authorization and deliver a highly predictive future indication of fraud as a result of ADC exposure.”

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