Mastercard plans to use Feedzai’s AI technology to enhance detection and resolution of crypto fraud

Odaily News Mastercard revealed that it has partnered with regulatory technology platform Feedzai to enhance the detection and resolution of fraud spread through crypto exchanges. Through the partnership, Feedzai will integrate directly with Mastercard’s CipherTrace Armada platform, which is used to help banks monitor transactions on more than 6,000 crypto exchanges to prevent fraud, money laundering and other suspicious activity. It is reported that Feedzai is a regulatory technology platform that aims to use artificial intelligence to combat online money laundering and financial fraud. The partnership will also give Mastercard access to Feedzai’s artificial intelligence technology. Feedzai says its software can identify and block suspicious transactions in nanoseconds, but it can also identify legitimate transactions. (CNBC)