Mastercard partners with regulatory technology platform Feedzai to combat crypto fraud using AI

ChainCatcher news, according to CNBC, Mastercard has partnered with regulatory technology platform Feedzai to leverage artificial intelligence in the fight against online money laundering and financial fraud. Through this collaboration, Feedzai will integrate directly with Mastercard's CipherTrace Armada platform to help banks monitor transactions from over 6,000 cryptocurrency exchanges to prevent fraud, money laundering, and other suspicious activities.

It is reported that CipherTrace Armada will be embedded directly into Feedzai's technology, rather than accessed through an API or application programming interface. Feedzai will "ingest" data to provide real-time alerts on suspicious crypto transactions. Mastercard will also utilize Feedzai's artificial intelligence technology, which can identify and block suspicious transactions in a matter of nanoseconds, but can also recognize legitimate transactions.