Mastercard will launch a crypto fraud detection tool called Crypto Secure

2022-10-04 14:40:57

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Chain Catcher News, CNBC reported that Mastercard (MA.N) has launched a new tool called Crypto Secure, which will help banks identify criminal activities related to cryptocurrency trading platforms on their payment networks. Crypto Secure was developed by blockchain intelligence company CipherTrace, which was acquired by Mastercard in 2021.

CipherTrace will use "sophisticated" artificial intelligence algorithms to assess the risk of cryptocurrency fraud based on data such as blockchain and public records of crypto transactions. CipherTrace, headquartered in Menlo Park, California, primarily assists businesses and official agencies in investigating illegal transactions involving cryptocurrencies, with its main competitors being Chainalysis and Elliptic. (Source link)

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MasterCard Crypto Fraud Detection

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