Visa has prevented more than $350 million in fraud in 2024 with the help of its new scam disruption team. This unit is part of Visa’s Payment Ecosystem Risk and Control (PERC) division and includes engineers, AI developers, former law enforcement officers, military experts, and data analysts.
According to the official press release of VISA, the chief risk and client services officer of Visa, Paul Fabara says:

“Visa has invested over $12 billion dollars in technology over the last five years, including to reduce fraud and enhance network security”

He also said,

“At the same time, we have made a significant investment in our best weapon against scammers: our people. By combining our proprietary technology with the unique experiences and perspective our talent brings, we can more effectively identify and defeat even the savviest scammers.”

Visa Scam Disruption (VSD)

Visa Scam Disruption (VSD) works to protect consumers, clients, and businesses using Visa’s expertise, advanced technology, and strong partnerships.

  • Scam Intelligence: VSD brings together experts from different fields to tackle scams. Along with top engineers and AI developers, Visa also hires former law enforcement officers, military professionals, and data analysts to strengthen its fight against scams.
  • Proactive Scam Investigations: VSD takes action before scams can cause serious damage. By using various methods to investigate suspicious activity, the team identifies and stops scams early.
  • Scam Detection and Disruption: VSD uses advanced technology and Visa’s vast network data to detect and stop scams. Investigators rely on Generative AI to analyze large amounts of data, uncover hidden connections, and identify real threats. Visa then works with banks, law enforcement, and other partners to break down scam networks and prevent future fraud.

Investigators use Generative AI to scan massive amounts of data, find patterns, and track down fraud networks. This technology enables Visa to analyze transaction activity, identify fraudulent trends, and take action against scam operations.

One of the biggest fraud schemes Visa uncovered involved fake “identity verification” services. Scammers sent phishing links through dating sites, tricking victims into visiting websites that looked legitimate. Once people entered their details, they were unknowingly enrolled in “recurring billing cycles” By studying transaction patterns and IP addresses, Visa connected the dots and exposed a network of fraudulent merchants running the same scam. As a result, they shut down nearly 12,000 scam websites, preventing over $37 million in fraud.

Michael Jabbara, SVP and global head of PERC at Visa, says: 

“Fraud usually has no face, but a scam is personal. These scams directly impact the lives of victims, sometimes with devastating effects. Visa also collaborates with intelligence partners, law enforcement, and industry working groups to ensure that not only do we shut these scammers down, but the other members of the ecosystem are also equipped to spot red flags on their own”

Visa takes a smart and proactive approach to fraud prevention by using advanced technology, AI analysis, and strong industry partnerships. By shutting down scam networks early, they protect consumers and make online transactions more secure. Their investment in both technology and skilled experts shows their strong commitment to staying ahead of evolving fraud tactics.