Online transection fraud: Mastercard says its own systems have not been breached

Stating that safety and security of payments is a top priority for it, Mastercard said it is working on the investigations with the regulators.

By: PTI | New Delhi | Published:October 20, 2016 6:01 pm
online payment security, online transection fraud, master card, master card online, credit card master card, latest news, business news Mastercard is committed to implementing best practices to protect its customers (AP Photo)

Amid fears of security breach of as many as 3.25 million debit cards, Mastercard today said its own systems have not been breached.

“We are aware of the data compromise event. To be clear, Mastercard’s own systems have not been breached,” a Mastercard spokesperson said in an email statement.

Stating that safety and security of payments is a top priority for it, Mastercard said it is working on the investigations with the regulators, issuers, acquirers, global and local law enforcement agencies and third party payment networks to assess the current situation.

“Mastercard is committed to implementing best practices and technologies to protect its customers financial institutions, consumers and merchants from fraud while ensuring their privacy is respected,” the statement said.

It said any concerned consumer should review their account statements and activity. “If they suspect fraudulent or unusual transactions, we encourage them to contact the bank that issues their card for assistance and more information,” it added.