Scam Protect

The Mastercard portfolio of Identity solutions adds protection across all money movement flows. By combining identity, device and transaction data with sophisticated AI technology we can prevent bad actors from striking across the lifecycle of a scam. We are continuously investing in product development to consistently improve the efficacy of our data and capabilities to detect and combat scams and improve user experience.

Scammers weaponize people’s natural impulses — to give, to get, to help and to connect — in well-practiced acts of social engineering. And while this is nothing new, scammers have become more brazen and sophisticated, taking advantage of the latest technologies like AI and other means to deceive consumers. Scams are also becoming increasingly pervasive. According to the FBI, Americans lost $12.5 billion to internet scams in 2023 alone. In the UK, scammers were responsible for nearly 1.4 million cases of fraud during the first half of 2023. That’s the equivalent of once every 12 seconds.

The stakes for businesses and consumers alike couldn’t be higher and that’s why we’re taking a multi-pronged approach to fight scams.

Scammers use variety of ways to collect money from innocent individuals – wire transfers, account-to-account, mobile payment apps, etc. Scams occur when fraudsters manipulate innocent consumers into providing their account credentials or making a payment to accounts they control. Read our guide to identifying social engineering scams and cyber threats to learn more.

To combat the growing threat of scams, Mastercard announced Scam Protect, a suite of specialised solutions powered by cutting-edge AI technologies, which help identify and prevent scams. Mastercard is also partnering with organizations across the ecosystem to fight scams.