Mastercard is launching a system to assess the risk of criminal association with cryptocurrency exchange on its payment network.
- Mastercard is now offering crypto risk assessment system Crypto Secure for its bank and card issuers customers.
- Crypto Secure provides a dashboard that indicates the riskiness of certain crypto merchants using a color-coded system.
- Powered by CipherTrace, which it acquired last year, Mastercard is launching the system in the face of growing crypto crime.
- The Crypto Secure platform is powered by artificial intelligence (AI) algorithms, harnessing on-chain data derived from blockchains, among other sources.
Its intended users are banks and financial institutions, who are presented with a dashboard that provides color-coded ratings representing different levels of suspicious activity, from green meaning “low,” to red indicating “high” risk.
Crypto Secure provides no other commentary, leaving the decision to accept a prospectively suspicious crypto merchant to the platform’s users.
Continue reading… “Mastercard Adopts Artificial Intelligence In Fight to Tackle Crypto Crime”
