Mastercard has acquired, a crypto-forensics firm, CipherTrace. This move is a part of the company’s strategy to monitor and comply with the evolving market conditions.
Mastercard has been working towards enhancing its cyber security capabilities to provide real-time protection of its clients’ data against fraud and other cyber threats. The company is investing heavily in this area, and it is expected that CipherTrace will help them achieve this goal.
In a press release on Thursday, Mastercard announced that it had acquired a digital forensic firm called Cipher Trace. The acquisition was made to assist in the company’s effort to tackle fraud and data security challenges.
CipherTrace will help Mastercard monitor and comply with market changes as they happen. It will also help them enhance their cyber security capabilities by providing insights into the scope of the existing risks and new opportunities for fraudulent activities.
Mastercard has been working towards enhancing its cyber security capabilities that can provide real-time protection of its clients’ data against fraud and other cyber threats. The company is investing heavily in this area, and it is expected that CipherTrace will help them achieve this goal.
The benefit of this acquisition is that Mastercard will have a thorough knowledge of where and how cryptocurrency can be used. With this information, they can help protect themselves from fraud and theft, which is common in the growing crypto market.
Since this acquisition is meant to help Mastercard combat fraud and data security challenges, we should not think of this as a takeover by the company of all aspects of blockchain technology or cryptocurrency. Rather it helps them be more efficient in managing these two aspects of digital trends today.
How does CipherTrace work?
CipherTrace is an anti-fraud detection platform that helps businesses detect fraud and cybercrime. It offers threat intelligence that is tailored for specific industries. With the help of AI, it detects and analyzes suspicious transactions and gives insight into the nature and scale of frauds.
This software uses machine learning algorithms to monitor digital transactions across different industries like finance, retail, and hospitality via behavioral analysis to predict where fraud might happen next; it can also conduct in-depth qualitative research of cryptocurrency trading activities using advanced machine learning models and algorithms.