G2 Risk Solutions (G2RS) has announced a strategic partnership with financial services giant Mastercard to address the rising challenge of transaction fraud within the financial sector. The collaboration focuses on combating transaction laundering (TL), a sophisticated form of fraud exploiting legitimate merchant accounts for illicit transactions, posing significant financial and reputational risks. G2RS contributes its advanced merchant risk solution, enhanced by Mastercard's Brighterion Artificial Intelligence (AI) technology. This integration aims to revolutionize transaction laundering detection by providing transaction-level fraud screening, and merchant risk scores, and leveraging the extensive G2RS Merchant Map, a leading database for identifying known launderers based on two decades of unique merchant data.
By combining Mastercard's AI-driven fraud scores with G2RS's robust merchant risk solution suite, the partnership introduces a comprehensive view of merchant activity. This collaboration not only strengthens transaction laundering detection but also streamlines the workflow for payment providers, enhancing efficiency in combating evolving payments risks. G2RS’s President, Rochelle Blease, emphasizes the partnership's role in equipping the payments industry with robust defenses, while Rohit Chauhan, EVP at Mastercard Cyber and Intelligence, underscores the importance of this collaboration in securing the payments ecosystem and instilling trust in every interaction.
