VISA

Visa has announced fresh detection and blocking technology to improve transaction safety and, implicitly, the integrity of its ecosystem payments.

The new security capabilities of the company in payment fraud prevention enable financial institutions and commercial customers to use its global electronic payment network.

All the safety capacities announced today are instantly accessible to all Visa customers without any extra registration or expenses.

“Cybercriminals attempt to bypass traditional defenses by stealing credentials, harvesting data, obtaining privileged access, and attacking trusted third-party supply chains,” said RL Prasad, Visa Payment System Risk SVP.

New skills for detecting fraud

The newly added Visa payment fraud detection tech is intended to safeguard its key elements, namely individuals, information and facilities, so as to preserve the confidence at the center of all payment transactions.

Visa Vital Signs is the first of four safety additions and has been intended to continuously monitor any transactions through the network and inform “financial organizations of the prospective fraudulent activity of ATMs and traders that may imply an ATM cashout attack” automatically.

Visa Account Attack Intelligence utilizes profound learning to evaluate the large amount of card-not-present transactions processed on Visa’s data bases, to detect attackers ‘ efforts by automatically testing to estimate customer account numbers, expired dates and safety codes.

The new security feature includes “the machine learning technology which detects sophisticated enumeration patterns, eliminates false positive elements and alerts financial institutions and merchants before fraudulent transactions begin.”

Visa Payment Threats Lab enables a company to rapidly set up a test environment that can examine any “customer processing, business logic and configuration settings” in order to identify any faults that might lead to fresh attack vectors.

In other words,”[ Visa] checks if a financial institution is validating cryptograms efficiently–codes that are dynamicly created for each transaction–for EMV chip transactions.” Last, but not least, Visa eCommerce Threat Disruption (eTD) is a fresh, patented software that scans eCommerce websites in real-time to monitor payment cards information for malware from online shops, or from online shops

This allows the enterprise to actively reduce the time spent by its eCommerce customers and their customers on payment information skimmers and to dramatically decrease the number of transactions otherwise compromised by malicious campaigns using card skimmer scripts.

All these new safety features are intended to complement Visa’s payment network with a Visa Threat Intelligence (VTI), a real-time platform for protecting customers against cyber attacks that target payment information.

“Visa’s new payment security capabilities combine payment and cyber intelligence, insights and learnings from breach investigations, and law enforcement engagement to help financial institutions and merchants solve the most critical security challenges,” added Prasad.

 

 

 

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