Mastercard Launches Anti-Money Laundering Service "TRACE" to Combat Financial Crime in Asia Pacific
Feb 13, 2025
Singapore, February 13: Mastercard today officially announced the launch of TRACE (Trace Financial Crime) in Asia Pacific, a sophisticated network-level solution that harnesses artificial intelligence to identify and prevent money laundering and financial crime. Powered by timely and large-scale payments data from multiple financial institutions, TRACE provides holistic intelligence beyond an individual financial institution's siloed view, enabling tracing of financial crime across a payments network. The groundbreaking crime-fighting solution has been implemented in the Philippines' Real-Time Payment network, making it the second market in the world to offer the service after the United Kingdom.