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Mastercard explores the Dark Web with GenAI

May 23, 2024
1 Min Read

Mastercard is doubling the speed at which it can identify possibly compromised cards by utilizing generative AI.

AI

With the help of new fraud prevention technologies from Mastercard, cardholders can now anticipate full card details more accurately from partial numbers that thieves sell on the Dark Web.

According to Mastercard's Johan Gerber, fraudsters may have believed they were operating in the shadows, trying to launder the credit card information of millions of gullible victims. We can now put the puzzle pieces together thanks to our cutting-edge cyber technology, which will increase confidence in banks, their clients, and the digital economy overall."

 

With faster than ever before speeds, the new system scans transaction data from millions of businesses and billions of cards. By doing this, it notifies Mastercard of novel, intricate fraud trends.

The card scheme claims that it can minimize false positive results by 200%, increase the speed at which merchants at risk are identified by up to 300%, and double the detection rate of compromised cards through the use of generative AI-based predictive technology.

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