Visa: AI Helped Block 85% More Fraud on Cyber Monday
Visa(V) PYMNTS.com·2024-12-18 03:37
Visa’s artificial intelligence (AI) and machine learning capabilities enabled it to block 85% more suspected fraud globally on Cyber Monday compared to a year earlier.It did so at a time when suspected fraudulent transactions at physical and digital stores rose by 200%, due in part to fraudsters’ use of AI, the payments technology company said in a Tuesday (Dec. 17) press release.“Although crooks are using AI more and more, so are we. And that’s paying off,” Paul Fabara, chief risk and client services offic ...