Handle with Care: MasterCard Issues Tips on Credit Card Security for Fraud Prevention Month

TORONTO, March 8, 2012 /CNW/ - MasterCard, NYSE:MA reminds consumers of safe credit card practices during Fraud Prevention Month.

"MasterCard cardholders should be assured that MasterCard would never call, text or email to ask for information such as credit card number, expiry date, PIN or the Card Validation Code (CVC) security code on the back of their card" says Rick Rennie, Vice President, Payment System Integrity, MasterCard Canada. "In today's world of email, text messages and social media, consumers should be extra diligent to ensure they keep their personal information protected by taking simple precautions."

Here are some tips that can help consumers prevent fraud:

• Be skeptical of unsolicited phone calls, email, text messages, or social media messages if they request credit card data or personal information such as passwords, date of birth, social insurance number, etc
• Examine links contained within emails or on any email attachments sent by an unknown or un-validated source no matter how harmless or familiar the title appears, instead delete the message unless you are able to confirm the sender is legitimate
• If you followed an email link to a website (or a text message to a voice recording system) and provided card data that later seemed suspicious, contact your credit card issuer immediately so your account can be protected
• Guard against compromise by ensuring your home computer(s) have up-to-date anti-malware, anti-spam, and firewall software installed
• Keep close track of your credit cards, regularly review statements for unknown purchases/cash advances, and contact your issuer if you see any such unusual transactions
• Do not share your credit card and PIN details via email or text message
• The vast majority of merchant websites are reputable - though you should leave a suspicious site immediately if you suspect it is not what it claims to be
• To research common online and telephone fraud scams or to report such scams, contact the Canadian Anti-Fraud Centre at www.antifraudcentre.ca or 1-888-495-8501

"MasterCard personal cardholders are protected by zero liability, meaning you are not responsible for fraudulent purchases made on your Canadian-issued account," continued Rennie. "But the first step in fraud prevention is making sure to take proper precautions in the beginning."

The payments landscape is ever-changing with advancements in e-commerce, mobile payments, and other cutting-edge data technologies occurring at an unprecedented pace. MasterCard supports a holistic fraud prevention approach that ensures cardholders continue to enjoy the ease of use and convenience they expect, while also maintaining their faith that their transactions are safe and secure. MasterCard works with many groups - such as cardholders, card issuers, service providers, merchants and industry bodies - to develop and advance new solutions, standards, and policies to protect payment card data and enable a secure payment system.

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a global payments and technology company. It operates the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the conversation on The Heart of Commerce Blog and subscribe for the latest news.

MasterCard
Sebastian Gatica
Environics on behalf of MasterCard Canada
416-969-2768
[email protected]