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.”