Cross Border Collaboration to Combat Financial Crimes

This case study presents the collaboration between Mastercard and Duality to enhance cross-border data collaboration aimed at fighting financial crimes. It outlines the challenges faced by organizations in sharing sensitive information across geographies while adhering to various regulations, including those related to data privacy and security. The study details the methodology employed in the IMDA’s PET Sandbox, which facilitated the use of Duality’s Privacy Protected Data Collaboration Platform. This platform enables secure data exchange without compromising privacy, utilizing post-quantum cryptography to ensure that sensitive information remains confidential. The case study also discusses the legal analysis conducted by the IMDA and Mastercard, affirming the platform's compliance with regulations in jurisdictions such as Singapore, India, the United Kingdom, and the United States. The findings demonstrate the practical application of privacy-enhancing technologies in combating financial fraud through secure and efficient data collaboration.