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Mastercard Sees 40% Surge in Fraud Amid Cyber Attacks

6/4/2025

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Summary

Story summary

Mastercard has witnessed a staggering 40% surge in fraud attempts in Q1 2025, spurred by cyber attacks on prominent retailers such as Marks & Spencer. Chief AI officer Greg Ulrich stressed the urgent need for AI to tackle these sophisticated fraud tactics, while also highlighting the crucial role of human oversight in ensuring robust fraud prevention.

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Story summary

Mastercard has witnessed a staggering 40% surge in fraud attempts in Q1 2025, spurred by cyber attacks on prominent retailers such as Marks & Spencer. Chief AI officer Greg Ulrich stressed the urgent need for AI to tackle these sophisticated fraud tactics, while also highlighting the crucial role of human oversight in ensuring robust fraud prevention.