Visa revealed, this Monday, the 3rd, that, since the launch of its initiative Scam Disruption Practicemore than 1,000 million dollars (864 million euros) were identified in fraud attempts globally, that is, in the space of one year.
Of this total, more than 260 million dollars (225 million euros) were avoided in Europe.
“Visa is committed to protecting consumers and businesses against the growing sophistication of online fraud,” said Rita Mendes Coelho, Country Manager of Visa in Portugal. He also highlighted that the team Scam Disruption is using advanced technology and collaborating with authorities and partners to dismantle fraudulent networks.
In Europe, the company claims to have dismantled more than 25,000 fraudulent networks, protecting consumers and companies from financial losses.
A recent case involved fraudsters using social media ads to lure victims with fake offers for luxury goods, resulting in the identification of more than 1,000 fraudulent merchants and the blocking of millions of suspicious transactions.
Visa also guarantees that it continues to invest in technology and resources to combat fraud and ensure the security of digital payments.