Mastercard gives APP fraud solution an AI upgrade in the UK ahead of stricter reimbursement rules

The news: Mastercard upgraded its Consumer Fraud Risk (CFR) solution with AI technology in the UK to better fight against Authorized Push Payment (APP) fraud, per a press release.

  • The AI tech will give the receiving banks a risk score within seconds of the transaction to detect whether the payment is going to an account linked to fraudsters.
  • Tests of these alerts have led to an average 60% improvement in the banks’ ability to identify high-risk accounts early.

Mastercard plans to expand this tech globally within the year.