By 
Mastercard has teamed up with financial crime prevention specialist Feedzai to enhance fraud detection and combat the growing threat of AI-driven scams targeting banks and consumers worldwide.
According to a recent report from Feedzai and the Global Anti-Scam Alliance, scammers stole over $1 trillion last year, underscoring the urgent need for more advanced fraud prevention measures.
Feedzai’s AI-native Financial Crime Prevention Platform continuously analyzes digital transactions—including card payments and real-time transfers—by assessing multiple risk signals in real time. Through this collaboration, Feedzai will accelerate the global deployment of Mastercard’s Consumer Fraud Risk (CFR) solution, helping financial institutions detect and mitigate fraud more efficiently.
CFR plays a crucial role in account-to-account payments by providing both sending and receiving banks with real-time intelligence to identify and prevent fraudulent activity. Since its launch in the UK in 2023, data from the country’s Payment Systems Regulator shows that Authorized Push Payment (APP) fraud has dropped by over 12%—a significant milestone in the fight against financial crime.
Johan Gerber, EVP and Head of Security Solutions at Mastercard, emphasized the impact of this partnership, stating:
“Together with Feedzai’s global platform, we will scale our first-of-its-kind scams solution to more markets, helping more financial institutions combat financial crime faster than before.“
As financial fraud continues to evolve, this partnership aims to equip banks with cutting-edge tools to stay ahead of emerging threats and better protect consumers from sophisticated scams.
Comments