Mastercard Partners With Artificial Intelligence Firm To Combat Crypto Fraud - The Daily Hodl
Payments giant Mastercard is partnering with an artificial intelligence (AI) firm to combat crypto fraud. Mastercard plans to integrate its crypto intelligence solution, CipherTrace Armada, with a platform developed by financial risk management solution Feedzai, according to a recent press release....
- Mastercard is partnering with AI firm Feedzai to combat crypto fraud.
- Mastercard will integrate its crypto intelligence solution, CipherTrace Armada, with Feedzai's RiskOps platform.
- Feedzai estimates that 40% of scam transactions go from a bank account to a crypto exchange.
- RiskOps analyzes transaction data to prevent fraud and financial crime using AI-based solutions.
- CipherTrace Armada aims to assess fraud risk in crypto transactions for banks, crypto exchanges, wallets, and digital asset firms.
- The integration of the two products will help prevent fraudulent crypto transactions in real time.
The article highlights a positive development in the fight against crypto fraud, with Mastercard partnering with an AI firm to integrate their fraud prevention solutions. This collaboration aims to provide financial institutions with the insights needed to prevent fraudulent crypto transactions, reinforcing trust and enhancing security for customers.