San Francisco, CA — Visa's ongoing commitment to fraud prevention delivered significant results for consumers during this year's holiday shopping rush. The company's AI-powered security systems identified and blocked 144% more suspected fraudulent activity over the Black Friday / Cyber Monday holiday weekend globally compared to the previous year, as shoppers hunted for deals both online and in stores.
As noted in a recent study from Visa, anxiety around fraud and scams proliferates: 78% of those surveyed globally said fraud schemes are getting harder to detect, and 39% of people say that they know someone who has been a victim of a scam in the last year. But consumers are not alone in the fight for secure holiday shopping.
Backed by $13 billion in technology investments over the last five years, Visa has built a multilayered defense infrastructure that analyzes transactions at lightning speed. This holiday season proved the value of these capabilities as both legitimate shoppers and criminals increased their activity, increasingly deploying artificial intelligence to automate and industrialize their schemes, as noted in the latest Visa Biannual Threats Report, released last month.
"The arms race between fraud prevention and fraud disruption continues to intensify," said Paul Fabara, Chief Risk and Client Services Officer at Visa. "Our advantage lies in deploying AI not just to catch fraud after it happens, but to predict and prevent it. The kick-off to the holiday season demonstrated that our approach is working. We're staying ahead of increasingly sophisticated criminal networks while making sure legitimate buyers have a seamless checkout experience.”
Visa's annual Holiday Threats Report, published in November, outlined emerging scam tactics and offered consumers practical guidance for protecting themselves during peak shopping periods.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.