Visa Unveils AI-Powered VAAI Score to Combat Enumeration Attacks

Visa launches the VAAI Score, a risk scoring tool using generative AI to detect and prevent enumeration attacks in real-time. The tool aims to reduce $1.1 billion in annual fraud losses and operational expenses caused by these complex attacks.

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Nitish Verma
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Visa Unveils AI-Powered VAAI Score to Combat Enumeration Attacks

Visa Unveils AI-Powered VAAI Score to Combat Enumeration Attacks

Visa has launched theVisa Account Attack Intelligence (VAAI) Score, a cutting-edge risk scoring tool that leverages generative AI to identify and prevent enumeration attacks in real-time. This innovative solution aims to significantly reduce the $1.1 billion in annual fraud losses and operational expenses caused by these complex attacks.

Enumeration attacks involve fraudsters testing card information to identify valid accounts, with 33% of enumerated accounts experiencing finance within five days of a fraudster obtaining access to their payment information. The VAAI Score model, trained on more than 15 billion VisaNet transactions, assigns a risk score to each transaction to detect and prevent these attacks in card-not-present (CNP) transactions.

Why this matters: The launch of the VAAI Score has significant implications for the security of the global payment ecosystem, as it demonstrates the potential for AI-powered solutions toai, combat, financial attacks. As fraudsters continue to adapt and evolve their tactics, the development of innovative risk assessment tools like the VAAI Score will be crucial in protecting consumers and businesses from financial losses.

The VAAI Score boasts six times the number of features compared to previous VAAI models, utilizing generative AI components to learn normal and abnormal transaction patterns. This enables the tool to identify the likelihood of complex enumeration attacks in real-time, reducing fraud without compromising Visa's performance and accuracy. Notably, the VAAI Score has reduced the false positive rate by 85% compared to othermodels.

Paul Fabara, Chief Risk and Client Services Officer at Visa, emphasized the urgency of addressing enumeration attacks, stating, "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." Michael Jabbara, SVP Global Head of Fraud Services at Visa, added, "With access to advanced technology, fraudsters are monetizing 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."

Visa's commitment to security and reliability is evident in its substantial investments in technology and dedicated team of specialists. Over the past five years, the company has invested more than $10 billion in technology to reduce fraud and increase network security. In FY23 alone, Visa proactively blocked $40 billion in fraud, preventing many from ever knowing they were at risk of a potential fraudulent transaction.

The launch of the VAAI Score marks a significant milestone in Visa's ongoing efforts to combat financial fraud and protect its clients and cardholders. By harnessing the power of generative AI and leveraging vast transaction data, Visa is setting a new standard in real-time risk assessment and fraud prevention. As enumeration attacks continue to pose a significant threat, the VAAI Score serves as a powerful tool to safeguard the integrity of the global payment ecosystem.