Mastercard's president of cyber and intelligence, Ajay Bhalla, said the company already uses similar technology to clamp down on fraud in the fiat world 👀
Mastercard is launching a tool to help banks spot and cut off transactions from crypto exchanges that are susceptible to fraud, according to CNBC.
Banks and fellow card issuers are set to be given a color-coded dashboard that shows whether incoming transactions are low risk or high risk. Bhalla went on to describe the digital asset market as "pretty large and substantial" — adding that Mastercard is determined to help merchants achieve regulatory compliance.
And there's little denying that Mastercard is also trying to keep up with the likes of Visa, which has also started offering merchants advice for integrating cryptocurrencies and NFTs.
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