Crypto Hotshots 2022 🔥♨️

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Tik-tok Telegram
Voice of Crypto
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Reading: Payment Giant Mastercard Introduces This New Service to Tackle Crypto Frauds
Share
  • bitcoinBitcoin(BTC)$28,117.00
  • ethereumEthereum(ETH)$1,767.05
  • tetherTether(USDT)$1.01
  • binancecoinBNB(BNB)$337.55
  • usd-coinUSD Coin(USDC)$1.01
  • rippleXRP(XRP)$0.382815
  • cardanoCardano(ADA)$0.339944
  • staked-etherLido Staked Ether(STETH)$1,766.83
  • matic-networkPolygon(MATIC)$1.13
  • dogecoinDogecoin(DOGE)$0.072881
  • Events
  • Videos
  • Podcast
Voice of CryptoVoice of Crypto
Aa
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
  • Services
  • Know Us
Search
  • VOC Explained
  • News
  • Analysis
  • Bitcoin
  • Altcoin
  • Press Release
    • Sponsored
    • Global Crypto Events
  • Services
    • Content Marketing Services
    • Crypto Influencer Marketing
    • Advertise With Us
  • Know Us
    • About Us
    • VOC Team
    • VOC Vigilantes
    • Brands Who Trust Us
    • Contact Us
Follow US
Copyright © 2023 Voice of Crypto. All Rights Reserved
Voice of Crypto > News > Payment Giant Mastercard Introduces This New Service to Tackle Crypto Frauds
News

Payment Giant Mastercard Introduces This New Service to Tackle Crypto Frauds

Sreerupa Biswas
Last updated: 2023/03/14 at 12:04 PM
Sreerupa Biswas Published October 23, 2022 March 14, 2023
Share
VOC, Voice of Crypto, Mastercard

The rising nature of crypto transactions and exchanges paved the way for several types of scams in the virtual market.

Contents
Mastercard Offers Greater PrivacyFraudulent Activities in the Crypto EcosystemCrypto Secure Instills New Faith

While, on the one hand, the crypto ecosystem offers a great investment opportunity, one can hardly deny the uncertainty of the market along with the growing nature of scams. However, Mastercard is set to launch its new crypto security tool, Crypto Secure, to protect crypto payments and ensure top-notch privacy. 

Mastercard Offers Greater Privacy

The financial provider, Mastercard, announced its new security tool Crypto Secure to protect crypto transactions made through its network. Crypto Secure belonged to CipherTrace and is now acquired by Mastercard.

The device, carefully designed through artificial intelligence, blockchain data, and crypto transaction records, can now detect any suspicious activity within its network. This tool aims to offer highly encrypted transactions without risk to investors’ financial details. 

Fraudulent Activities in the Crypto Ecosystem

Crypto frauds are not new. Reports claim several merchants might use crypto transactions for money laundering. In other words, they can invest their black money into cryptocurrencies, a potentially harmful activity in any economy.

Money laundering activities can lead to child prostitution, trafficking, and other heinous crimes, and it is high time to curb them and make the crypto ecosystem safe.

This is precisely where Crypto Secure comes into play, as it aims to reduce such activities through its in-built data and transaction tracing features. 

Crypto Secure Instills New Faith

As Ajay Bhalla, the President of the Cyber and Intelligence business for Mastercard, claims, the tool aims to increase faith in digital asset transactions.

The growing suspicion of money laundering and crypto fraud is common. Such suspicion acts as a hindrance toward crypto investments and transactions.

The launch of Crypto Secure can then instill greater trust among people through its robust technology. 

Mastercard issuers will receive greater benefits and security through Crypto Secure. The tool shows a color-coded risk factor associated with the transactions of various merchants and their businesses.

Hence, banks can now verify the activities of the merchants before allowing them for any transaction based on the color scheme. 

In an era where financial providers like Visa and Mastercards offer crypto payment options, such a security tool is imperative.

While such transaction diversification, the continuous security threat with investors losing several million dollars can act as a red flag.

However, Mastercard is sure to combat this through this revolutionary venture. 

 

You Might Also Like

XRP Market Cap Smashes $20B As Ripple vs. SEC Case Stirs News

Dogecoin Whales Make Massive Moves – Where Is DOGE Headed?

3 Things About Crypto you Need to Know Before the FOMC meeting

HeartX Launches Web3 Marketplace and Community Aim to Revolutionize Digital Art Industry

SVB Collapse Stalls NFT Market Growth

TAGGED: Blockchain, Crypto Exchange, Shiba Inu
Share this Article
Facebook Twitter Email Copy Link Print
Previous Article VOC, Voice of Crypto, ETH, Ethereum Fidelity Excels in Crypto Space by Offering Ethereum (ETH) Trading
Next Article VOC, Voice of Crypto, Crypto Tokens Primed to rise Jack Dorsey-backed Decentralized Social Network Gets Staggering Response
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Binance

Follow US

Find US on Socials
Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Subscribe to our Newsletter

Get Newest Articles Instantly!

Ledger
Popular News
Web3 Shorthand
Web3 Shorthand: A Glossary for Crypto Newbies
Voice of Crypto XRP
XRP Market Cap Smashes $20B As Ripple vs. SEC Case Stirs News
Quick-Tips-To-Avoiding-A-Fake-Crypto-Wallet
Quick Tips To Avoiding A Fake Crypto Wallet

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Instagram Facebook Facebook Linkedin Youtube Spotify Medium Reddit Tik-tok Telegram
Voice of Crypto

Voice Of Crypto hits a beat with almost 15 million users, churning out the best news and content in the Web3, crypto and blockchain space

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

  • Advertise With Us
  • About Us
  • Privacy Policy

Copyright © 2023 Voice of Crypto. All Rights Reserved

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?