Visa Warns Cybercrime Could Rival World's Top Economies by 2025 - Reportedly Defends Against $40B In Fraud - Visa (NYSE:V)

Category: Finance

Visa Inc. thwarted 80 million fraudulent transactions worth $40 billion last year through significant technology investments, including $500 million in AI. Cybercrime costs are projected to reach $10.5 trillion by 2025, making it a major economic concern. Visa's investments have proven effective, with a notable increase in stock value over the past year.

Keywords: Visa Inc., fraud prevention, cybercrime

Source: Benzinga

Update At: 7/27/2024

Related Sources

Microsoft Co. (NASDAQ:MSFT) Shares Bought by Sycomore Asset Management

Sycomore Asset Management increased its stake in Microsoft by 4.4% in Q1, owning 136,821 shares valued at $55.58 million. Other institutional investors also adjusted their positions, with significant purchases from Norges Bank and Vanguard Group. Microsoft reported strong earnings, beating estimates with $2.94 EPS and $61.86 billion in revenue. The company declared a quarterly dividend of $0.75, with a yield of 0.68%. Analysts maintain a 'Moderate Buy' rating with a consensus price target of $477.72.

MarketBeat

What TV channel is QPR v Tottenham pre-season friendly on? Live stream and kick-off time

Many retired homeowners still have unpaid mortgages and may experience significant cost increases when their current mortgage deals expire.

Radio Times

India Budget 2024: Budget for defence

India's Union Budget announcement on July 23 is expected to allocate a higher budget for the Defence sector, building on the $75 billion allocated in the Interim budget. Experts anticipate continued trends in military expenditure and potential increases in arms exports.

WION

Exclusive | Defence allocation likely to be raised by 7-9% in Budget 2024?

India's upcoming full-year Budget for 2024-25 is expected to focus on growth and prosperity, with a projected 7-9% increase in the defence budget, allocating Rs 6.3 lakh crore to the Ministry of Defence. Key expectations include special grants for the Border Roads Organisation and increased R&D funding for the DRDO.

Zee Business

Budget 2024: These mutual fund investors will benefit if FM Nirmala Sitharaman raises Section 80C limit | Mint

Raising the Section 80C limit in Budget 2024 could enhance tax savings and investment growth for investors in ELSS mutual funds. Advocates argue that the current limit of ₹1.5 lakh, unchanged since 2014, fails to address inflation and the financial needs of the middle class. Increasing this limit would alleviate tax burdens and promote savings in essential financial instruments, benefiting both individuals and the economy.

mint

Budget 2024 Expectations LIVE Updates: Will Modi 3.0's first budget bring change in tax slabs?

Salaried taxpayers are anticipating income tax changes in the upcoming Union Budget 2024, with expectations for tax breaks and increased standard deduction limits. The budget, to be presented by Finance Minister Nirmala Sitharaman, marks her seventh consecutive presentation, a record in Indian history. Economists suggest focusing on reducing fiscal deficits and generating employment growth. Various stakeholders, including real estate and child rights activists, are urging for reforms and increased funding in their respective sectors.

Hindustan Times

Budget 2024: Capital Gains Tax Realignment Maybe On The Horizon, Says Maneesh Dangi

A potential realignment of capital gains tax rates is anticipated during the current term of the Union government, aiming for a more uniform approach globally. Maneesh Dangi suggests that this could lead to a two-year long-term capital gains tax period, aligning more with European standards, though political changes in the US may impact the timeline.

NDTV Profit

Ukraine, Bondholders’ Committee Reach Debt Restructuring Deal

Ukraine has reached a preliminary agreement with private creditors to restructure over $20 billion of international debt, allowing the country to avoid default and allocate funds for its defense against Russia. Bondholders accepted a 37% loss on their holdings, resulting in $8.67 billion in waived claims, while Ukraine anticipates saving $11.4 billion over the next three years through reduced coupons and extended maturities.

Bloomberg.com

The Parliament approved the draft law on the restructuring of the external state debt. The main points

The Verkhovna Rada of Ukraine adopted draft law No. 11396, allowing the government to suspend external public debt payments during restructuring until October 1, 2024. The law includes provisions for including former Ukravtodor's debt in state debt and aims to enhance debt sustainability, supported by the IMF. The restructuring is expected to save over $10 billion in payments by 2027.

Бабель

EU Commission urges US, European investment giants to reach ‘swift’ debt restructuring deal with Kyiv

The European Commission has urged private creditors to quickly reach an agreement with Ukraine to prevent a default on $20 billion in debt. A two-year moratorium on interest payments is set to expire on August 1, and negotiations have stalled despite Ukraine's request for a 60% debt reduction. The situation is critical as Ukraine's military spending has surged and its debt-to-GDP ratio is projected to reach 94%. Without restructuring, Ukraine risks not being able to finance its defense and recovery efforts.

Euractiv