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Morgan Stanley cancels MasterCards following US theft

Morgan Stanley customers in the UK are the latest to be affected by the theft of personal details of around 2,000 MasterCard credit cardholders.

Morgan Stanley customers in the UK are the latest to be affected by the theft of personal details of around 2,000 MasterCard credit cardholders.

Earlier this week it was reported that customers with the Clydesdale Bank were having their MasterCards cancelled and replaced following the theft. Morgan Stanley is now following suit.

Other banks may also issue replacements as a result of the theft, which may be linked to the recent theft of many thousands of MasterCard customer details in the US.

MasterCard admitted that a security breach last week allowed fraudsters to steal the credit card details of UK customers.

MasterCard said at the time that it had “been made aware of this breach and took immediate action together with the banks concerned”.

MasterCard added, “In order to protect cardholders, MasterCard and its card-issuing banks operate state-of-the-art, multi-level fraud monitoring systems. Together, we look for patterns of activity consistent with fraud. Issuers can then monitor their cardholders’ accounts closely for fraudulent activity, and may reissue cards or take other actions if they suspect fraud has occurred.”

An international fraud ring is believed to have been involved in the US data theft, and customers around Europe were said to have been affected.

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