Stopping Scam Sites Practical Guide for Issuers and Acquirers

This guide provides best practices for financial institutions, specifically issuers and acquirers, to enhance their oversight and response to scam activities. It outlines various strategies that can be employed to detect and prevent scams effectively. The document emphasizes the importance of thorough merchant due diligence, including verifying business models and monitoring transaction patterns. It also discusses the necessity of real-time fraud detection and dynamic authorization controls to mitigate risks associated with fraudulent transactions. Additionally, the guide highlights the role of education and communication in empowering cardholders to recognize and report scams. By implementing these practices, stakeholders can improve their defenses against evolving scam threats and preserve trust in digital commerce. The document serves as a critical resource for understanding the collaborative efforts needed to combat scams and protect consumers in the financial ecosystem.