Visa launches new fraud-detection efforts

The company said the features would help protect the integrity of the payments ecosystem.

Visa has rolled out four new security features that alert financial institutions about fraudulent ATM activity and card-not-present fraud, as well as detect security vulnerabilities in EMV transactions and merchant websites.

The company said the features would help protect the integrity of the payments ecosystem and would be available to Visa clients at no additional cost.

“Cybercriminals attempt to bypass traditional defenses by stealing credentials, harvesting data, obtaining privileged access and attacking trusted third-party supply chains,” Visa Payment System Risk SVP RL Prasad said. “Visa’s new payment security capabilities combine payment and cyber intelligence, insights and learnings from breach investigations, and law enforcement engagement to help financial institutions and merchants solve the most critical security challenges.”

 

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