Visa (V) Launches a New Security Roadmap for New Zealand to Fight AI-Driven Scams

Visa Inc. (NYSE:V) is one of the 10 Best Non-Tech Stocks to Buy and Hold For 3 YearsOn July 4, Visa Inc. (NYSE:V) launched a new Security Roadmap for New Zealand to fight the rise of AI-driven scams and payment fraud.

This three-year plan is focused on protecting consumers and businesses from increasingly sophisticated cyber threats. Visa Inc. (NYSE:V) noted that in 2024, New Zealand suffered NZ$194 million in scam and card fraud losses, with unauthorized card fraud up 32% and online shopping scams now the most common type reported. The release highlighted that criminals are using artificial intelligence to mimic real consumer behavior, bypass security checks like SMS passcodes, and manipulate victims with precision.

Visa (V) Launches a New Security Roadmap for New Zealand to Fight AI-Driven Scams

A customer signing a loan agreement with the bank’s representative in a private office.

Visa Inc. (NYSE:V) used AI to stop over NZ$273 million in fraud in New Zealand in 2023. To keep up with evolving threats, the company plans to invest in next-generation security tools, real-time analytics, biometric authentication, and stronger cybersecurity across the payment ecosystem.

Visa Inc. (NYSE:V) is a global payments technology company that enables secure and fast money movement and commerce across more than 200 countries.

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Disclosure: None. This article is originally published at Insider Monkey.