Mastercard Utilizes AI to Monitor Suspicious Cryptocurrency Transactions

Mastercard Utilizes AI to Monitor Suspicious Cryptocurrency Transactions

Mastercard Teams Up with Feedzai to Enhance Crypto Fraud Protection

Mastercard has collaborated with Feedzai, an AI-powered risk management system, to improve protection against crypto fraud on trading platforms. The partnership aims to integrate Mastercard’s blockchain forensic product, Ciphertrace Armada, into Feedzai’s RiskOps platform. This will enable financial institutions to intervene in unauthorized transactions in real-time, preventing funds from leaving a victim’s account on a crypto exchange.

Feedzai’s data indicates that 40% of scam transactions originate from a financial institution and end up in a crypto exchange. According to Ajay Bhalla, President of Cyber and Intelligence at Mastercard, crypto fraud is five times higher than regular fiat transactions. The alliance between Mastercard and Feedzai is expected to differentiate between legitimate and fraudulent transactions.

Mastercard’s acquisition of CipherTrace in 2021 was a strategic move to strengthen its crypto-related capabilities. The financial details of the acquisition were not disclosed.

Hot Take: Mastercard’s Move to Combat Crypto Fraud

Read Disclaimer
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.

Mastercard’s partnership with Feedzai signifies a significant step in addressing the growing concern of crypto fraud. By integrating AI and blockchain technology, the collaboration aims to provide real-time protection and reinforce trust in crypto transactions.

Mastercard Utilizes AI to Monitor Suspicious Cryptocurrency Transactions
Author – Contributor at | Website

Noah Rypton stands as an enigmatic fusion of crypto analyst, relentless researcher, and editorial virtuoso, illuminating the uncharted corridors of cryptocurrency. His odyssey through the crypto realms reveals intricate tapestries of digital assets, resonating harmoniously with seekers of all stripes. Noah’s ability to unfurl the labyrinthine nuances of crypto intricacies is elegantly interwoven with his editorial finesse, transmuting complexity into an engaging symphony of comprehension. An unwavering beacon for both seasoned adventurers and neophytes in the crypto cosmos, Noah’s insights forge a compass for informed decision-making amidst the tides of ever-evolving cryptocurrencies. With an artist’s eye for precision, he crafts a distinctive narrative, enriching the vibrant tableau of the crypto landscape.