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In the heart of the data center – a piece of suburban Washington, in which a large part of the global internet traffic flows – Visa runs its global fraud command center.
The numbers with which the payment giant deals with is enormous. Every year, 15 trillion dollars flow through Visa’s Networks, which corresponds to about 15 percent of the global economy. And bad actors constantly try to suck something off this money.
Modern fraudsters vary dramatically in sophistication.
In order to stay in advance, Visa has invested $ 12 billion in the past five years to build AI-driven Cyber fraud skills, and knew that criminals also spend great spending.
“They all, from a single actor of individual threats to really corporate criminal organizations that generate ten or hundreds of millions of dollars from fraud and fraud every year, would like to earn a quick wallet,” said Michael Jabbara, Visa’s Global Head of Fried, during a tour of the company’s security campus.
“These organizations are very structured how they work.”
The best resource-criminal syndicates are now focusing on fraud that are aimed directly at consumers and carry them out to purchases or transactions by manipulating their emotions.
“Consumers are constantly vulnerable. They can be exploited, and here we have seen a much higher incidence of attacks here,” said Jabbara.
– fraud centers –
The warning signs are clear: everything that is too good to be online is suspicious, and romantic opportunities with strangers from distant countries are particularly dangerous.
“What you do not recognize is that the person you chat with is more in a place like Myanmar,” warned Jabbara.
He said that the victims of human trafficking in multi-billion-dollar cyber fraud centers in Myanmar’s lawless border regions are forced to work in cyber fraud centers of several billion years.
The latest fraud techniques are systematic and quietly devastating.
As soon as criminals have received their card information, they automatically distribute them to numerous dealers’ websites that generate small recurring fees – amounts low enough so that the victims no longer notice for months.
Some of these operations are increasingly similar to legitimate technology companies and offer fraudsters and digital products, similar to Google or Microsoft.
In the dark network, criminals can buy extensive fraud.
“You can buy the software. You can buy a tutorial to use the software. You will receive access to a dumplings on the ground or you can get access to a bot network” in order to carry out the service attacks, overwhelm servers with traffic and effectively estimate it.
