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Mastercard Partners with Feedzai to Bolster Cryptocurrency Fraud Monitoring

CryptoMastercard Partners with Feedzai to Bolster Cryptocurrency Fraud Monitoring

Mastercard has joined forces with regulatory technology platform Feedzai to enhance the monitoring and prevention of fraud in the cryptocurrency space. Through this partnership, Feedzai will integrate directly with Mastercard’s CipherTrace Armada platform, enabling banks to monitor transactions from over 6,000 crypto exchanges for fraud, money laundering, and suspicious activities. The collaboration aims to increase fraud detection, protect consumers, and identify potential money laundering activities, including the exploitation of mule accounts. The integration will provide real-time alerts about suspicious crypto transactions and leverage Feedzai’s artificial intelligence capabilities to recognize both legitimate and suspicious transactions. This move signifies Mastercard’s commitment to legitimizing crypto as a mainstream financial asset subject to established rules and compliance frameworks. The partnership builds on Mastercard’s acquisition of CipherTrace in 2021, emphasizing the company’s dedication to preventing fraud in the cryptocurrency space.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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