Mastercard Teams Up with AI Company to Tackle Cryptocurrency Fraud

Mastercard Teams Up with AI Company to Tackle Cryptocurrency Fraud

Mastercard Teams Up with A.I. Firm to Fight Cryptocurrency Fraud

Mastercard is joining forces with an artificial intelligence (AI) firm to combat digital currency fraud. According to a recent press release, Mastercard will integrate its cryptocurrency intelligence solution, CipherTrace Armada, with a platform developed by financial management of risk solution Feedzai.

Feedzai’s data implies that 40% of scam transactions moves directly from a bank account to a cryptocurrency exchange. By using its AI-driven platform, RiskOps, Feedzai intends to analyze transaction data and prevent fraud and financial crime, while CipherTrace Armada is designed to assist banks, cryptocurrency exchanges, wallets and other digital asset corporations assess fraud risk in cryptocurrency transactions.

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Ajay Bhalla, Mastercard’s president of cyber and intelligence, states integrating the two fraud-prevention products will assist stop fraudulent cryptocurrency transactions in real time.

Following its acquisition of CipherTrace in 2021, Mastercard continues  to invest in digital asset security to protect customer data and prevent fraudulent transactions in the digital currency space.

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Mastercard’s partnership with Feedzai reflects the increasing demand for enhanced security measures in the digital currency space. By leveraging A.I. solutions, this collaboration intends to provide more robust fraud prevention and protection for consumers. As the adoption of digital assets continues  to grow, such initiatives are essential to reinforce trust and security.

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This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

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