Visa’s Anti-Fraud Unit Blocks $350 Million in Scams

Visa’s anti-fraud disruption unit has prevented $350 million in scam losses over the past year. Announced on March 11, the Visa Scam Disruption (VSD) unit operates under the Payment Ecosystem Risk and Control (PERC) framework, which blocked $40 billion in fraudulent attempts in 2024.

Investing in Security

Visa has invested over $12 billion in technology over five years to combat fraud. Chief Risk and Client Services Officer Paul Fabara emphasized the importance of combining advanced technology with expert personnel to counter evolving scams.

How VSD Works

The Visa Scam Disruption (VSD) unit uses:

• AI-Powered Detection: Generative AI analyzes massive data sets to identify scam activity.
• Proactive Investigations: Identifying and mitigating scams before they reach consumers.
• Targeted Prevention Strategies: Addressing high-risk scam types like investment and romance scams.

The Growing Scam Threat

Reports indicate scams targeting banks and consumers are rising. The most financially damaging include:

• Investment Scams: Median loss of $1,104 per victim.
• Romance Scams: Median loss of $1,996, often involving multiple transactions.

FTC data shows $12.5 billion in reported fraud losses last year—a 25% increase from 2023.

Visa’s Commitment to Fraud Prevention

By integrating AI-driven security with expert analysis, Visa continues to enhance payment security and protect consumers from evolving threats.

For more details on Visa’s fraud prevention efforts, visit Visa’s official website.