Mastercard and Feedzai Team to Fight AI-Powered Scams

Mastercard has teamed with financial crime prevention company Feedzai to help financial institutions prevent scams.

“As payments continue to evolve, fraudsters are increasingly using AI to scam consumers,” the companies said in a news release Tuesday (Feb. 18). “This cost more than $1 trillion last year, with more than 50% of consumers saying they had encountered a scam at least once a week.”