MasterCard Supports Federal Government’s Fight Against Identity Theft
TORONTO, March 31, 2009 – MasterCard Canada today in Ottawa joined the federal government in support of legislation to fight perpetrators of identity theft, a very specific and sophisticated crime. Its prevention and detection require the active engagement of many players including the payments industry, retailers, government, law enforcement and the public.
“We support the government in its plan to criminalize the activities that lead to identity theft,” said Jennifer Reed, Vice President, MasterCard Canada. “At MasterCard, we know that despite our customers’ best efforts it’s possible that consumers could become a victim of identity theft or payment card fraud. That’s why fraud prevention and detection are an integral part of business operations for MasterCard and our card issuers.”
Identity theft is a serious crime that should have serious repercussions. Industry players like MasterCard, law enforcement and consumer groups have been working hard to solve the problem. They congratulate the government on the announcement of its new legislation and its involvement in this issue will be a key source to containing this problem in Canada.
MasterCard advances commerce worldwide by developing more secure, convenient and rewarding payment solutions. One of the most recent significant developments in this area is the chip card, which provides greater security in electronic transactions.
MasterCard is a global leader in chip implementation and has led the introduction of chip technology in Europe and Asia and now Canada. Upgrading Canadian credit and debit cards to chip protects the Canadian market from global fraud migration as chip rolls out in other countries.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
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