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October 2, 2017Blog Posts

Mastercard releases Early Detection System to warn banks of at-risk cards

Finextra:

With card breaches at retailers becoming an everyday occurrence, Mastercard is arming banks with a tool that helps predict which customer accounts are most at risk of fraudulent activity following a third party compromise.

The launch of Mastercard’s Early Detection System comes as banks face up to the crippling costs of an endemic cyber-crime spree hitting the payment cards business. Just last week Whole Foods and Sonic warned that their systems had been breached and consumer card details lifted. This followed the news of a massive breach at Equifax which exposed the details of 143 million accounts.

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