On October 3, financial services provider Mastercard unveiled a new crypto risk management tool. Mastercard’s new Crypto Secure service aims to assist banks in detecting and preventing fraud on cryptocurrency merchant platforms. Crypto Secure utilises artificial intelligence, blockchain data, and public records of crypto transactions, among other sources, to assess the criminal risks of crypto trades within the Mastercard network. Ajay Bhalla, Mastercard’s president of cyber and intelligence business, stated that this advancement helps its partners stay compliant with local legislation when combating crypto fraud.
