Visa has launched AI-powered enhancements to its Visa Account Attack Intelligence (VAAI) solution designed to combat the rise in account attacks facilitated by automated scripts and botnets.
These attacks, known as enumeration attacks, contribute to significant financial losses, amounting to approximately US$1.1 billion in fraud annually.
This new feature, called VAAI Score, aims to better detect and prevent these attacks by leveraging generative AI to analyze transaction patterns in real-time.
The tool, initially available to US issuers, assigns a risk score to each transaction with a particular focus on card-not-present (CNP) transactions to identify potential threats without impacting the integrity of the transaction. Identify.
visa reports that 33% of accounts targeted by enumeration attacks experience fraud within five days of a breach.
VAAI scores reduce this risk by reducing false positives by 85% compared to previous models, providing more accurate detection capabilities.
Key benefits of VAAI scores include enhanced fraud prevention and reduced operational losses by quickly detecting complex enumeration patterns.
Additionally, the tool promises to improve the cardholder experience by ensuring that legitimate transactions are processed without delay.
It provides real-time risk scoring and can make decisions within 20 milliseconds, helping issuers make timely and effective decisions when approving transactions.
The model used for the VAAI score was developed using data from over 15 billion VisaNet transactions and includes a significantly enhanced feature set to more accurately identify suspicious activity. .
Visa has invested more than US$10 billion over the past five years to strengthen network security and reduce fraud risk.
paul favara
“Enumeration can have a lasting impact on clients, and there is an urgent need for tools that can better detect and prevent these attacks in real time.
With VAAI scores, our clients have access to real-time risk scoring that helps detect potential enumeration attacks, and issuers can be more informed about when to block transactions. you can make decisions. ”
Paul Fabara, Chief Risk and Customer Service Officer at Visa, said:
Michael Jabara
“With access to advanced technology, fraudsters are monetizing stolen credentials faster than ever before.
Enumerated transactions impact the entire ecosystem. Using VAAI scores, we provide our clients with advanced tools to prevent cardholder accounts from being compromised and stop fraudulent transactions before they occur. ”
said Michael Jabara, senior vice president of fraud services at Visa.
