Mastercard launches new crypto fraud protection tool

The financial service provider Mastercard launched a new crypto service related to risk management on Oct. 3. Mastercard’s new service, Crypto Secure, is aimed to help banks find and prevent fraud on crypto merchant platforms.

Crypto Secure combines the usage of artificial intelligence, blockchain data and public records of crypto transactions, along with other sources, to determine crime-related risks of crypto exchanges within the Mastercard network. Mastercard already has a similar service with fiat currency transactions available to banks.