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Mastercard extends AI scheme for banks to stop scams as they are happening

  • Mastercard has expanded a scheme that allows banks to detect payment scams as they are happening.
  • The program helps UK banks halt fraudulent transactions before they drain victim accounts.
  • The initiative uses artificial intelligence to provide real-time risk scores to the sender's bank.
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The IndependentThe Independent

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

The service has been extended to help receiving banks identify potential ‘money mule’ accounts being used by fraudsters.

·London, United Kingdom
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Manchester Evening NewsManchester Evening News

Mastercard extends AI scheme for banks to stop scams as they are happening

The consumer fraud risk service was first introduced in early 2023 and it is now being expanded

·Manchester, United Kingdom
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Shropshire StarShropshire Star

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

The service has been extended to help receiving banks identify potential ‘money mule’ accounts being used by fraudsters.

·Ketley, United Kingdom
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Evening StandardEvening Standard

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

The service has been extended to help receiving banks identify potential ‘money mule’ accounts being used by fraudsters.

·London, United Kingdom
Read Full Article
StvStv

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

The initiative, works by scanning multiple data points associated with a transaction.

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perspectivemedia.comperspectivemedia.com

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

The service has been extended to help receiving banks identify potential ‘money mule’ accounts being used by fraudsters. Mastercard has expanded an initiative that helps banks to detect payment scams as they are happening. Since early 2023, the Mastercard scheme has helped UK banks identify and stop potentially fraudulent payments before the funds leave the victim’s account. The initiative, which uses artificial intelligence, works by scanning …

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