Fintech
Visa Unveils VAAI Score: AI-Powered Generation Fraud Defense
Visa has launched a new generative artificial intelligence (Gen AI) anti-fraud solution, Visa Account Attack Intelligence (VAAI) Score, to help identify the likelihood of enumeration attacks in card-not-present transactions.
Visa’s latest product launch comes as malicious actors continue to adopt and leverage more sophisticated technologies – such as botnets and automated scripts – to amplify card testing attacks and exploit transactions at an unprecedented scale and pace.
Now Visa hopes to be at the forefront of the fight against this growing threat.
Visa: Protection against enumeration attacks
According to Per Visa analysis, enumeration attacks cause operational expenses and annual fraud losses of up to $1.1 billion, a significant share of global fraud.
To combat this issue, Visa has updated its VAAI offering with the addition of VAAI Score, a new tool that uses Gen AI components to identify and score enumeration attacks.
Made available first to U.S. issuers, VAAI scoring will help reduce fraud and operational losses by assigning card-not-present transactions a real-time risk score, helping to detect and prevent enumeration attacks.
The payment processing giant hopes the effectiveness of this latest innovation will be significant, with insights from Visa revealing that 33% of listed accounts suffered fraud within five days of a fraudster gaining access to account information. payments.
By leveraging artificial intelligence to learn normal and anomalous transaction patterns, Visa’s VAAI score identifies the likelihood of complex enumeration attacks without compromising Visa’s performance integrity and accuracy.
The launch of the VAAI Score comes as Visa hopes to make its services more easily accessible for many Join the AWS Partner Network, simplifying access to its services for fintech customers, financial institutions and cloud-native enterprises. He also follows the release of his new one Subscription management service.