Fraud attempts rise in the wake of cyber attacks

MASTERCARD'S head of artificial intelligence has reported a significant increase in fraud attempts following a series of cyber attacks on prominent retailers.

- BY SAMUEL NORMAN

Greg Ulrich, chief data and AI officer at Mastercard, revealed to City AM that the payments network is constantly under attack by fraudsters.

According to Ulrich, Mastercard saw a 40% rise in mitigated attacks during the first quarter of 2025 compared to the same period in the previous year.

Ulrich noted that, as attackers employ new technologies to enhance their attacks, these threats are "keeping us on our toes."