tech
How Visa’s AI Task Force Disrupted US$2.6bn of Scams
Visa Scam Disruption (VSD) specialist team uses AI and data to proactively identify and dismantle global fraud networks threatening consumers
TL;DR
- Visa's Scam Disruption (VSD) team has dismantled over US$2.6bn in fraudulent activity in just over two years.
- The team uses a blend of expertise including data science, engineering, AI development, law enforcement, and military backgrounds.
- AI and vast, anonymized data from Visa's network are used to identify patterns of organized criminal operations.
- The VSD team's intelligence helps investigators connect unrelated fraudulent activities to reveal the scope of criminal networks.
- A European social media 'survey scam' targeting consumers with fake discounted products and hidden recurring payments was dismantled, stopping an estimated US$100m in fraud.
- Visa emphasizes the need for a synchronized, global response to combat adaptive and fast-moving scams, leveraging AI-enabled capabilities and ecosystem partnerships.