Visa Account Attack Intelligence (VAAI) Score is a new fraud solution backed by generative artificial intelligence (Gen AI) that helps determine the risk of enumeration assaults in card-not-present transactions.

Visa recently launched a new product at a time when hackers are using increasingly advanced technology, such automated scripts and botnets, to increase the volume of card testing assaults and steal money from transactions at a rate and scope never seen before.

Visa now aspires to take the lead in fending off this growing danger.

Visa: Guarding Against Attacks via Enumeration

According to Visa's observations, enumeration assaults cause up to US$1.1 billion in yearly fraud losses and operating costs, accounting for a sizable amount of worldwide fraud.

In order to counter this, Visa has added VAAI Score, a new tool that employs Gen AI components to recognize and score enumeration threats, to its VAAI product.

By providing a real-time risk assessment for card-not-present transactions and assisting in the detection and prevention of enumeration attacks, the VAAI assessment, which was initially made accessible to US issuers, would help lower fraud and operational losses.

The large payments processing company is hoping that this most recent invention will prove to be beneficial, as according to Visa insights, 33% of listed accounts had fraud within five days of a fraudster obtaining payment information.

With the help of Gen AI, which analyzes both typical and anomalous transaction patterns, Visa's VAAI Score is able to predict the possibility of sophisticated enumeration assaults while maintaining the accuracy and performance of Visa.

With the introduction of VAAI Score, Visa aims to streamline access to its services for cloud-native fintech, financial institution, and business clients, hence increasing the accessibility of its services for a wider audience by becoming a member of the AWS Partner Network. It also comes after its brand-new Subscription Manager Service was made available.

"Enumeration can have lasting impacts on our clients and there's an immediate need for tools that can better detect and prevent these attacks in real-time," says Paul Fabara, Chief Risk and Client Services Officer at Visa.

"Our clients can now access real-time risk scoring with the VAAI Score, which can help identify the possibility of an enumeration attack and help issuers decide when to block a transaction more intelligently."

In comparison to existing risk models, Visa claims that their new tool has helped lower the false positive rate by 85%.

ISSUERS CAN ASSIST WITH: VAAI SCORE. decreased operating losses and fraud. increased satisfaction for cardholders. Instantaneous transaction evaluation

With six times as many characteristics as earlier VAAI models, the VAAI Score model has been trained on over 15 billion VisaNet transactions, which has improved its ability to identify unusual enumeration patterns.

Visa's new risk scoring approach generates a two-digit risk score that estimates the possibility of enumeration to better decide whether to accept and refuse a transaction. It does this by using noisy data to train its real-time AI model.

ISSUERS CAN ASSIST VAAI SCORE WITH:

• Decreased operational losses and fraud

• Enhanced cardholder satisfaction

• Instantaneous transactional scoring

With six times as many characteristics as earlier VAAI models, the VAAI Score model has been trained on over 15 billion VisaNet transactions, which has improved its ability to identify unusual enumeration patterns.

Visa's new risk scoring approach generates a two-digit risk score that estimates the possibility of enumeration to better decide whether to accept and refuse a transaction. It does this by using noisy data to train its real-time AI model.

Michael Jabbara, SVP and Global Head of Fraud Services at Visa, says: “With access to advanced technology, fraudsters are monetising stolen credentials faster than ever before.

“Enumerated transactions impact the entire ecosystem, and with the VAAI Score, we’re giving our clients a sophisticated tool that can help prevent cardholder accounts from being compromised and stop fraudulent transactions before they happen.”