Mastercard launches Mastercard Threat Intelligence,solution for analyzing cyber threats applied to payments sector

Mastercard launches Mastercard Threat Intelligence, the first solution for analyzing cyber threats applied on a large scale in the payments sector, according to a company press release.The solution combines Mastercard's fraud prevention expertise and global network visibility with selected cyber threat intelligence from the Recorded Future platform to help anti-fraud and compliance teams at issuing and acquiring banks proactively detect, prevent and respond to fraud generated by cyberattacks.According to the cited source, fraud rarely begins at the moment of a transaction, most often originating from a cyberattack. According to the data, 57% of global fraud prevention leaders say they are informed about cyber breaches only after financial losses begin to occur. Payment fraud is no longer just a financial problem for anti-fraud teams - it is a cybersecurity challenge that directly affects an organization's financial performance. Mastercard Threat Intelligence removes communication barriers, facilitating effective collaboration between anti-fraud and security teams to prevent fraud before it occurs.Key features of the solution include: card testing detection, real-time alerts and proactive denials of fraudulent test transactions, reducing future fraud and protecting cardholders; digital skimming intelligence: quantitative data that helps customers assess the impact of skimming attacks and combat card-related malware, leveraging Mastercard's ongoing collaborations with industry partners to protect the payments ecosystem; merchant threat intelligence - specific insights into payment fraud and strategic threat intelligence across the payments ecosystem, helping to assess merchant risk and enable faster response to incidents; Payments Ecosystem Threat Intelligence - weekly reports detailing emerging threats and vulnerabilities across the payments ecosystem; Payments Insights: applied case studies and fraud trend analysis designed to guide strategies and strengthen defenses."As digital transformation accelerates in Europe, the need to protect trust in every transaction is more important than ever. Through Mastercard Threat Intelligence and by combining advanced intelligence with our strong payments expertise, we are helping businesses remain resilient, prevent fraud and thrive with confidence in an increasingly connected economy," said Michele Centemero, EVP Services Europe Mastercard, quoted in the statement.The launch of Mastercard Threat Intelligence comes less than a year after Mastercard completed its acquisition of Recorded Future."The effectiveness of cybersecurity will increasingly depend on threat intelligence that cuts across sectors and regions. Providers with extensive transactional data and analytics capabilities will play a critical role in improving the exchange of information between financial institutions, merchants, and the rest of the industry," said Tracy (Kitten) Goldberg, Director of Cybersecurity, Javelin Strategy & Research.Threat Intelligence data has already helped Mastercard ecosystem partners identify and eliminate malicious domains responsible for stealing payment card data. Since the start of market testing and over six months, these domains have affected nearly 9,500 e-commerce sites and have been associated with an estimated $120 million in fraud.Mastercard is a company that offers a diverse range of digital payment options. The company is present in over 200 countries and territories around the world.