Mastercard Partners With AI Firm Feedzai to Curb Crypto Scams

• Mastercard is partnering with Feedzai, a regulatory technology platform, to combat fraud within crypto exchanges.
• Feedzai will integrate with Mastercard's CipherTrace Armada platform to monitor transactions from over 6,000 crypto exchanges for fraud, money laundering, and suspicious activities.
• The partnership aims to enhance fraud detection, protect consumers, and identify potential money laundering and mule accounts.
• Approximately 40% of scam transactions involve funds moving directly from a bank account to a crypto exchange.
• The collaboration will grant Mastercard access to Feedzai's AI capabilities for quick identification and blocking of suspicious transactions.
• Feedzai's RiskOps platform analyzes transactions totaling over $1.7 trillion annually.

The article highlights Mastercard's efforts to combat fraud within crypto exchanges through a partnership with Feedzai. The collaboration aims to enhance fraud detection and protect consumers. The sentiment is positive as it emphasizes the potential benefits of the partnership.