Visa unveils security capabilities for payment fraud prevention

Wednesday 21 August 2019 00:45 CET | News

Visa has announced a suite of innovative security capabilities to help prevent and disrupt payment fraud, breaking new ground in cybersecurity and fraud prevention.

The new security services and capabilities help protect the integrity of the payments ecosystem by detecting and disrupting fraud threats targeting financial institutions and merchants. The solutions are available to Visa clients at no additional cost or sign-up.

Visa’s payment security capabilities help to protect the core components of the ecosystem — people, data, and infrastructure — to maintain trust and connect the world through a reliable and secure digital payment network. The new security capabilities add to existing protections and include:

  • Visa vital signs – Actively monitors transactions and alerts financial institutions of potential fraudulent activity at ATMs and merchants that may indicate an ATM cashout attack;

  • Visa account attack intelligence – Applies deep learning to Visas processed CNP transactions to identify financial institutions and merchants that hackers may be using to guess account numbers, expiration dates, and security codes through automated testing. The ML tech detects sophisticated enumeration patterns, eliminates false positives, and alerts affected financial institutions and merchants before fraudulent transactions begin;

  • Visa payment threats lab – Creates an environment to test a client’s processing, business logic, and configuration settings to identify errors leading to potential vulnerabilities;

  • Visa ecommerce threat disruption – A proprietary solution that uses investigative techniques to proactively scan the front-end of ecommerce websites for payment data skimming malware.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Visa, security, payments , fraud, scams, fraud prevention, cybersecurity, fraud threats, financial institutions, merchants, ATM, cashout attacks, CNP, ML, transactions , malware, ecommerce
Countries: World