Mastercard has entered into a partnership agreement with the regulatory technology platform Feedzai, which leverages artificial intelligence to detect money laundering and financial fraud cases.
This agreement comes as part of Mastercard’s plans to enhance its fraud prevention measures in the digital currency market, as the company stated in a statement published on its website.
Mastercard announced that the CipherTrace Armada platform will be utilized to monitor transactions on 6000 cryptocurrency exchanges, and will be seamlessly integrated into Feedzai technology.
Modern technologies may reveal fraudulent operations conducted through digital currency platforms, thereby protecting unaware consumers and uncovering potential money laundering activities.
