Visa: AI Helped Block 80 Million Fraudulent Transactions in 2023

Visa’s investments in artificial intelligence (AI) and other technology reportedly enabled the payments processor to block 80 million fraudulent transactions worth $40 billion in 2023.Charles Lobo, regional risk officer for Visa in Central and Eastern Europe, Middle East and Africa, shared these figures with Reuters, according to a report posted Tuesday (July 23).“Now despite that, there’s still a lot of bad that’s happening,” Lobo said, per the report.Over the past five years, worldwide, Visa has invested ...