Visa Charles Lobo, the Regional Risk Officer for Visa in Central and Eastern Europe, Middle East, and Africa told Reuters, said that the credit card company prevented 80M fraudulent transactions amounting to $40B worldwide last year as a result of investments in technology, including AI. “In just the last year, those investments, how have they benefited us? We’ve blocked $40 billion of fraudulent transactions. That’s 80 million transactions prevented,” Lobo said.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on V:
- Options Volatility and Implied Earnings Moves Today, July 23, 2024
- Options Volatility and Implied Earnings Moves This Week, July 22 – July 26, 2024
- Visa still a powerhouse, should be bought ahead of earnings, Barron’s says
- V Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Crowdstrike outage impacting businesses around the world, CNBC reports