Home / Financial Services/ Mastercard partners S’pore Police to implement new fraud-fighting device that tackles card crime

Mastercard partners S’pore Police to implement new fraud-fighting device that tackles card crime

Comments / {{hitsCtrl.values.hits}} Views / Thursday, 12 July 2018 00:18

(Singapore): To combat fraud, Mastercard announced its partnership with the Commercial Affairs Department of the Singapore Police Force to implement the Mastercard Forensic Reader (MFR) – the world’s first device to help law enforcement agencies detect payment card fraud with greater speed, accuracy and efficiency. 

Resembling an in-store point-of-sale terminal, the MFR aims to improve the effectiveness, timeliness and accuracy in investigating payment card fraud of Mastercard and other payment cards. In the past, such investigations required protracted processes involving multiple parties such as investigation agencies, payment solution companies and card issuers. The introduction of the MFR enables law enforcement agencies to quickly process seized fraudulent cards and verify with the relevant card issuer if the card is a suspected counterfeit in a matter of seconds. 

Ian Wong, Deputy Director, Financial Investigation, Commercial Affairs Department said, “Mastercard had been working very closely with the CAD in fighting payment card fraud since the 1980s. Besides providing invaluable assistance in our day-to-day investigations, Mastercard has also partnered CAD and other organisations in efforts to prevent payment card fraud. Mastercard’s donation of 10 pieces of Mastercard Forensic Reader will enhance CAD’s ability to investigate into payment card fraud and related offences.” 

Derek Pak, Regional Head, Customer Fraud Management, Asia Pacific, Mastercard, said, “With criminals constantly thinking of new ways to bypass security systems, industry-wide collaboration has never been of greater importance when staying one step ahead of the game. The Mastercard Forensic Reader is a practical example of how we’re putting our expertise and resources to innovating new ways to fight fraud, partnering with like-minded organisations such as local law enforcement agencies to implement this on-ground. It is the combined force of the industry that will allow us to effectively combat card fraud, with the common goal of safeguarding cardholders’ private information.” 

Originally piloted in 2015, law enforcement agencies in Macau and Taiwan were among the first to adopt the MFR in Asia Pacific.

Key features of the MFR include:

Greater speed: Fraud investigations require immediate coordination across organisations. The MFR enables law enforcement agencies to instantly contact the issuing bank to determine if the card is authentic or counterfeit within seconds.

  • Greater flexibility: The reader is designed to be able to read chip, magnetic stripe or contactless cards.
  • Data security: The MFR meets industry standards and does not store any card information.
  • Increased efficiency: The MFR provides simple reporting of large volumes of data in multiple formats including screen display, paper or digital. 

The MFR’s development continues the company’s commitment to delivering the highest levels of security in the most convenient ways to pay. With innovative solutions including the recently launched ‘Decision Intelligence’ and ‘Identity Check Mobile’ in place, cardholders, retailers and card issuers can have the peace of mind when using, accepting and issuing Mastercard payment products.

Share This Article


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Taking sides – on the side of the law

Monday, 19 November 2018

I am under criticism for “taking sides” in the ongoing dispute between the UNF and UPFA. Former President Mahinda Rajapaksa has accused me thus: “Yesterday a commissioner from the Elections Commission went to the Supreme Court saying that the P

Hang the House! It’s OUR country, future, etc.

Monday, 19 November 2018

I have rarely if ever empathised with the Sri Lanka Police Department. But when I saw those hapless cops ducking chilli bombs in Parliament, my heart went out to those whom I had previously seen as simply being PC Plods or Mr Goons. Sorry to say that

The only way out

Monday, 19 November 2018

Leaving aside the legalities, politicalities, constitutionalities and the complexities of the current imbroglio in which the nation is grounded (temporarily), the underlying issues in the constitutional crisis can be reduced to one single question: a

Man-made constitutional crisis: Personal vendettas should not be allowed to destroy the country

Monday, 19 November 2018

President is simply one presiding over an entity of people It all came to surface as the culmination of a personal vendetta between President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe. The country at large knew of it when the Pre

Columnists More