Mastercard and Feedzai Partner to Combat AI-Powered Scams

Mastercard has teamed up with financial crime prevention specialist Feedzai to help banks tackle the rising threat of AI-powered scams. According to a report by Feedzai and the Global Anti-Scam Alliance, scammers stole over $1 trillion last year.

Feedzai’s AI-native Financial Crime Prevention Platform analyzes every digital transaction in real time, identifying multiple risk signals. This technology will now accelerate the deployment of Mastercard’s Consumer Fraud Risk (CFR) solution to financial institutions worldwide.

CFR provides real-time intelligence to both sending and receiving banks, helping detect and prevent scams. Since its UK launch in 2023, the solution has contributed to a 12% reduction in authorized push payment (APP) scams, according to the Payment Systems Regulator.

Johan Gerber, EVP of Security Solutions at Mastercard, stated, “Together with Feedzai’s global platform, we will scale our scams solution to more markets, helping financial institutions combat fraud faster than ever.”