Visa prevented $40 billion worth of fraudulent transactions in 2023- official

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JOHANNESBURG : Visa prevented 80 million fraudulent transactions worth $40 billion globally last year thanks to investments in technology including artificial intelligence (AI), a senior company figure said on Tuesday.

In 2025, cybercrime is projected to cost the world $10.5 trillion.

"In just the last year, those investments, how have they benefited us?

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Article Details

Category: EconomyBusiness

Markets: SingaporeSouth Africa

Topics: Year Million Johannesburg Last Fraudulent Prevented Investments Visa Transactions World Billion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-24 @ 00:04:04 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 263 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 21754299

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 47 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 2 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

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Publisher ID: #27

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