Mastercard Gets Farther into Crypto with New Security Product
Mastercard, one of the largest financial service providers in the world, is set to launch a new security tool on Tuesday. In an official press release, the firm said that the new product will help banks identify and stop transactions coming from vulnerable crypto exchanges. JUST IN: Mastercard launches 'Crypto Secure', a software to combat fraudulent #crypto transactions. — Watcher.Guru (@WatcherGuru) October 4, 2022 The tool, called Crypto Secure, uses artificial intelligence algorithms to asses the likelihood of criminal activity related to cryptocurrency exchanges on the Mastercard payment network. The system makes use of information from multiple sources, including the blockchain. The tool has color-coded ratings that depict suspicious behavior on exchanges. Red denotes high risk, while green denotes low. Furthermore, the tool does not decide whether to reject a certain crypto merchant. It is up to the card issuers to make that choice. The Crypto Secure tool i...