Visa equipped with new anti-fraud technology to spot... - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Visa equipped with new anti-fraud technology to spot $1.5b credit card fraud

Visa equipped with new anti-fraud technology to spot $1.5b credit card fraud

Visa equipped with new anti-fraud technology to spot $1.5b credit card fraud
The content is accurate at the time of publication and is subject to change.

Visa has introduced an anti-fraud technology that will help to spot fraudulent activities, which has now reached an all time high of $1.5 billion. Visa has updated its technology to an upgraded version of Visa Advanced Authentication, which is the company`s “real time risk scoring technology”. These improvements in technology will help the fraud detection by approximately 29% and also help improve in detecting the highly sophisticated credit card frauds by a huge 122%. This implementation will help the company in detecting an extra $1.5b through fraudulent transactions in the coming year, the company stated.

Officials at Visa however, have declined to give any specific detail regarding the upgrade. However, an Advanced Authentication would now be equipped with faster and much more precise fraud detection techniques which will have improved architecture and algorithms that will enable Visa to crack even the most complex and voluminous transaction in no time and would also provide on-the-spot risk scores that would be used to either block or allow the online transactions through retailers or merchants.

Kevin Siegel, of Visa, states that there are huge amounts of data, which they build their analytics on. This upgrade would open doors and allows a wide range of methods which could not be used before.

American Express, Visa, and MasterCard are some of the major credit card companies that are equipped with the most advanced and powerful fraud detection systems that are available. Around 45 billion credit card transactions were processed within the one-year period by Visa and it ended in September 30, 2010. All of those transactions were run through VisaNet, the global processing platform for the company where Advanced Authentication is also a part. These risk scores on transactions are based on the spending patterns across their network as well as the company`s overall view of fraud, the company has stated.

These fraud syndicates are very savvy and are aware of the functioning of these fraud detection systems, they are structuring transactions to avoid detection by creating fraud networks, which then mimics legitimate transactions. They then manipulate the network then escape millions of dollars.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

The Newly Revamped Hawaiian Airlines World Elite MasterCard

Posted: July 20, 2018

Vacationing in Hawaii can be a dream for many, and those with the recently upgraded Hawaiian Airlines World Elite MasterCard and Hawaiian Airlines Business MasterCard can earn miles towards a trip quicker with the cards newly revamped ... Continue reading
Getting Cash Back When Flying With Aerolineas Argentinas

Posted: July 19, 2018

There is a new Amex Offer on the table for people who are thinking about flying with Aerolineas Argentinas, giving them $100 in cash back when booking flights with the airline. To get the deal, travelers must spend $500 or more. Continue reading
American Express Cardholders Get Free Amazon Prime

Posted: July 18, 2018

If you have an American Express credit card you may find a special offer in your inbox, one letting you take Amazon Prime for a test drive for free for three months. This offer is available until July 23rd, 2018, or until 160,000 people ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants,, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness*
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!