Mastercard doubles down on effort to detect and tackle crypto fraud with AI tie-up
Publishing timestamp: 2023-11-20 01:15:41
Summary
Mastercard has partnered with regulatory technology platform Feedzai to improve fraud monitoring and blocking in the cryptocurrency space. Feedzai will integrate with Mastercard's CipherTrace Armada platform to help banks monitor transactions from over 6000 crypto exchanges for fraud and suspicious activity. The partnership aims to increase fraud detection, protect consumers, and detect potential money laundering activity. Mastercard's acquisition of CipherTrace in 2021 and the launch of its CryptoSecure product further demonstrate its push into the crypto market.
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