Visa report shows top scams impacting consumers and businesses globally

Category: Finance

Threat actors are increasingly targeting consumers in the payments ecosystem, utilizing sophisticated scams that leverage Generative AI. Visa has invested over $10 billion in technology and innovation to combat these threats, focusing on consumer safety and secure payment solutions. Key scams include 'pig butchering', inheritance scams, humanitarian relief scams, and triangulation fraud, which have led to significant financial losses. Visa's proactive measures and dedicated teams aim to disrupt fraud tactics and enhance consumer awareness.

Keywords: Fraud, Scams, Payments

Source: Vietnam Investment Review - VIR

Update At: 7/27/2024

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