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Mastercard Partners With AI Firm Feedzai to Curb Crypto Scams

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

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