MasterCard moves to cut online fraud

MasterCard has announced the launch of a two-part plan to help e-tailers fight fraud.

Site Data Protection is a self-certification scheme that involves e-commerce vendors filling out a MasterCard questionnaire, which is then graded to produce a security rating.

MasterCard will also scan e-tailers' websites to check for improper configuration or other security weaknesses.

The second part of the plan covers physical security measures such as chip and Pin, which requires a pass code on credit card transactions as well as a signature, and will be rolled out before next January.

"The idea is to help merchants counteract the risk of hacking attempts," said Brian Morris, head of e-business solutions at MasterCard Europe.

"We are very concerned about any fraud and take it very seriously. We have a duty to protect cardholders, merchants and banks and want to increase trust in shopping securely on the internet."

MasterCard is also teaming up with security specialist Ubizen to offer security services, and is working with insurance company Marsh to offer e-commerce insurance services.

"This is something American Express have been doing for some time," said Professor Neil Barrett, technical director at Information Risk Management. "It's about making e-commerce vendors more aware of their obligations."