Card fraud is declining says Mastercard. Unfortunately, social scams are on the rise

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Card fraud is declining says Mastercard. Unfortunately, social scams are on the rise

//travel-leisure.news-articles.net/content/2025/ .. -unfortunately-social-scams-are-on-the-rise.html

Published in Travel and Leisure on Friday, April 25th 2025 at 10:46 GMT by Fortune
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

AI is changing the cybersecurity game both for crooks and those protecting consumers.

Mastercard has reported a significant decline in card fraud, attributing the success to enhanced collaboration with banks and the adoption of advanced security technologies like tokenization and AI-driven fraud detection systems. Despite this progress, the company warns that social engineering scams, such as phishing and smishing, are on the rise, exploiting human vulnerabilities rather than technological weaknesses. Mastercard's Chief Digital Officer, Jorn Lambert, emphasized the need for continued vigilance and education to combat these evolving threats, noting that while technological solutions are crucial, human awareness and behavior play a critical role in preventing fraud.

Read the Full Fortune Article at:
[ https://fortune.com/article/mastercard-banks-getting-the-upper-hand-on-card-fraud-but-social-scams-getting-worse-mastercard-says/ ]