The reality is, fraud is rampant and increasingly sophisticated. Fighting it at scale is more than a full-time job.
Take a quick look at your spam folder, and you’ll almost certainly find more than one attempt to get you to do something you probably shouldn’t—to click a dubious link or banner or visit a sketchy website.
And you’re not alone: Generative AI tools have made phishing attempts harder to spot. Ransomware incidents are escalating at a rapid pace.¹ And enumeration attacks continue to be a popular means of validating and breaching payment credentials.²
As part of Cybersecurity Awareness Month, today the Visa Payments Loft opened in Washington D.C. It’s a showcase of Visa’s innovations and investments that protect the payments ecosystem today and in the future of digital commerce.
What it takes to fight fraud at scale
Over the last 6 months alone, Visa helped prevent more than $30 billion in fraud losses.
Staying one step ahead of the fraudsters takes huge and constant investment in the latest and emerging technologies.
Over the last five years, Visa has invested more than $10 billion in cutting-edge technology to keep payments safe for consumers and businesses around the globe. Most recently, we spotlighted an important evolution in our fraud dispute program that could help save small businesses over $1 billion globally over the next five years.
The future of payment security
The Visa Payments Loft is a space to engage in discussions, share insights and unpack innovation to drive the industry forward. For the next two weeks, Visa is hosting partners, clients and decision makers to give them a first-hand look at how we approach security, innovation and purpose – bringing to life how we deliver on our mission to uplift everyone, everywhere.