According to Foresight News, Mastercard has partnered with regulatory technology platform Feedzai to leverage artificial intelligence in combating online money laundering and financial fraud. Through this collaboration, Feedzai will integrate directly with Mastercard's CipherTrace Armada platform, helping banks monitor transactions from over 6,000 cryptocurrency exchanges to prevent fraud, money laundering, and other suspicious activities. CipherTrace Armada will be embedded directly into Feedzai's technology, rather than being accessed through an API or application programming interface. Feedzai will 'inhale' data to provide real-time alerts for suspicious crypto transactions.
Mastercard will also utilize Feedzai's artificial intelligence technology, which can identify and block suspicious transactions within nanoseconds while also recognizing legitimate transactions.