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[Visa's Anti-scam Team Prevents $350 Million In Fraud In First Year] Visa's New Scam Disruption Team, Formed In Early 2024, Has Prevented $350 Million In Fraud Across Dozens Of Attacks In Its First Year. The Team Uses Transaction And Scam Report Data To Identify Criminal Rings, With $37 Million Of The Savings Linked To 12,000 Fraudulent Identity Verification Merchants. This Initiative Aims To Reduce Consumer Losses From Scams, Which Cost Payment Card Industry $33.83 Billion Worldwide In 2023, According To Nilson Report.
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