Building Digital Trust by Combating Scams and Fraudulent Merchants

This white paper addresses the challenges posed by scams and fraudulent merchants in the digital commerce landscape. It outlines how fraudsters exploit vulnerabilities within the payment ecosystem, leading to significant financial losses for consumers and businesses alike. The paper discusses the rapid proliferation of scam websites, which have increased due to the demand for digital goods and services, and the sophistication of fraud techniques employed by scammers. It emphasizes the need for a multi-layered approach to combat these threats, involving collaboration among Mastercard, financial institutions, and merchants. The document details the importance of implementing robust Know Your Customer (KYC) protocols, transaction monitoring, and education campaigns to enhance consumer awareness. Additionally, it highlights the Mastercard standards and best practices that aim to mitigate fraud and maintain trust in digital transactions. The paper concludes by stressing the necessity of a coordinated global response to effectively address the growing issue of online scams and protect consumers.