“Visa has invested $12 billion over the last five years to improve its cyber, fraud, and risk tools. The scam disruption practice is part of that broader effort.

The new practice includes an intelligence team that goes beyond Visa’s own payment network and studies the dark web and social media to uncover scammers’ actions, Michael Jabbara, senior vice president of payment ecosystem risk and control at Visa, told Axios.

Visa also has a dedicated disruption team that partners with industry peers and law enforcement to shut down scam networks, including fraudulent merchant sites and scammers’ financial accounts found on Visa’s networks…

Visa estimates its team, which it has been building over the last year, disrupted more than $350 million worth of attempted fraud in 2024.”

From Axios.