Hooray for MasterCard Canada! I will gladly assist in reporting suspected fraudulent use. In the past I went as far as to Google the names & telephone numbers of people I thought had their cards stolen and call them myself. Now I can simply mark the card to the credit cards companies can let each other know.
MasterCard Canada recently launched an update to their operating regulations specifically relating to ensuring card issuers are made aware of suspected fraudulent transactions. The new E-commerce Fraud Alerts for Issuers service requires that when merchants identify any previously authorized transactions suspected as fraudulent and will not be fulfilling the order, to reverse or cancel the transaction and advise the card issuer. This new service will allow merchants to support the card issuers to block or monitor suspected accounts to stop future fraudulent transactions.
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