Mastercard enhances AI-driven fraud detection program for real-time UK bank scam identification, now including recipient banks.

Mastercard has enhanced its AI-driven fraud detection program to assist UK banks in real-time identification of payment scams, particularly authorized push payment (APP) fraud. The initiative now extends to recipient banks, enabling them to flag transactions potentially linked to fraudulent accounts. Starting October 7, banks must reimburse customers for bank transfer scams unless gross negligence is proven, as mandated by the Payment Systems Regulator.