Suggesting Finance
No Result
View All Result
  • Login
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto
Subscribe For Alerts
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto
No Result
View All Result
Suggesting Finance
No Result
View All Result
Home Crypto

Mastercard Partners With AI Firm Feedzai to Curb Crypto Scams

News Room by News Room
November 20, 2023
Reading Time: 2 mins read
0
Mastercard Partners With AI Firm Feedzai to Curb Crypto Scams
Source: Adobe Stock

Mastercard is intensifying its efforts to identify and prevent fraud within crypto exchanges. Mastercard announced a partnership with Feedzai, a regulatory technology platform leveraging artificial intelligence to combat online money laundering and crypto scams.

Mastercard and Feedzai to Leverage AI to Detect Crypto Scams


Through this collaboration, Feedzai will directly integrate with Mastercard’s CipherTrace Armada platform, designed to assist banks in monitoring transactions from over 6,000 crypto exchanges for fraud, money laundering, and suspicious activities.

Unlike the traditional use of an API, Feedzai will embed CipherTrace Armada directly into its technology, allowing for real-time alerts on questionable crypto transactions.

Feedzai CEO Nuno Sebastio emphasized the partnership’s potential to enhance fraud detection, protecting consumers and identifying potential money laundering and mule accounts—accounts exploited by fraudsters to launder illicit funds.

Feedzai Analyzes Transactions Totalling Over $1.7 Trillion Annually


Approximately 40% of scam transactions currently involve funds moving directly from a bank account to a crypto exchange, according to Feedzai data.

The collaboration will grant Mastercard access to Feedzai’s AI capabilities, enabling quick identification and blocking of suspicious transactions while recognizing legitimate ones.

Feedzai’s RiskOps platform analyzes transactions totaling over $1.7 trillion annually, with the firm holding nearly 100 patents to safeguard its technology.

Sebastio highlighted a common oversight by some banks, stating that many only block transactions involving recognized and regulated entities within the crypto space, omitting others.


Enter your email for our Free Daily Newsletter

A quick 3min read about today’s crypto news!

Read the full article here

ShareTweetSendSend

Related Posts

'Fundamental Shift' in Traditional Bitcoin Market Cycle May Be on the Horizon
Crypto

'Fundamental Shift' in Traditional Bitcoin Market Cycle May Be on the Horizon

October 3, 2024
FTX/Alameda Unstakes Over $1B in Solana – Is a Major Price Shift Coming?
Crypto

FTX/Alameda Unstakes Over $1B in Solana – Is a Major Price Shift Coming?

September 15, 2024
Man Utd launch Player Trading Cards digital collectibles and Fantasy United game | 31 July 2024
Crypto

Man Utd launch Player Trading Cards digital collectibles and Fantasy United game | 31 July 2024

August 1, 2024
Trader Turns $462 into $3.4 Million Thanks to PEPE
Crypto

Trader Turns $462 into $3.4 Million Thanks to PEPE

May 30, 2024
Polygon Executive Pivots Roles To Developing ZK Proof Tech
Crypto

Polygon Executive Pivots Roles To Developing ZK Proof Tech

May 29, 2024
Altcoin Interest Driving South Korean Crypto Craze – Report
Crypto

Altcoin Interest Driving South Korean Crypto Craze – Report

May 28, 2024

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Suggesting Finance

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Visit our landing page to see all features & demos.

LEARN MORE »

Recent Posts

  • Trump advisor Navarro says India must stop buying Russian oil
  • Trump calls for Fed governor's resignation as ally requests DOJ probe
  • Trump admin launches comprehensive federal review targeting state laws that hurt national economy

Categories

  • Banking
  • Business
  • Credit Cards
  • Crypto
  • Economy
  • Finance
  • Investing
  • Loans
  • Markets
  • Mortgage
  • Real Estate
  • Saving
  • Taxes
  • Uncategorized
  • Privacy Policy
  • Terms of use
  • Advertise
  • Contact

© 2023 Suggesting Finance. All Rights Reserved.

No Result
View All Result
  • Home
  • Business
  • Finance
  • Mortgage
  • Banking
  • Credit Cards
  • Investing
  • Loans
  • Saving
  • Taxes
  • More
    • Markets
    • Economy
    • Real Estate
    • Crypto

© 2023 Suggesting Finance. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.