Online Fraud

Mastercard on Monday announced the launch of an enhanced identity solution designed to improve the online shopping experience and tackle digital fraud in a new collaboration with Microsoft Corp.

The Department of Post (DoP) has warned its consumers via SMS not to fall victim to bogus claims providing government incentives through India Post.

The New York-based digital identity and biometrics firm states in a press release that it will help the DEO with identity verification and fraud detection to ensure minimal friction and cut down on losses from false claims.

Fraud schemes, especially those that target the elderly and other vulnerable groups, are nothing new, but the challenges of pandemic life made way for a rise in victimization.

The only way to mitigate these attacks is to bring in more regulations and rules, like PSD2 and the requirement for Strong Customer Authentication.