Visa (NYSE:V), a global leader in digital payments, is taking a stand against AI scammers. They recently announced a robust security strategy for New Zealand, a country experiencing a surge in AI-based scams. The strategy’s primary objective is to modernize security measures with more cutting-edge and effective solutions.
The Security Roadmap from Visa, a three-year strategy unveiled recently, targets the increasing AI-enabled scams in New Zealand. It aims to safeguard consumers and businesses who are becoming victims of these complex scams. With the use of AI technology, Visa intends to outpace the scammers, essentially using their tools to counter them.
Battling AI Scams with AI
Artificial intelligence is a two-sided coin. While it can enhance business operations and customer experiences, it can also empower tech-savvy criminals. The surge in AI-based scams in New Zealand is a grim reminder of this darker facet of AI technology.
Nevertheless, Visa is not sitting idle. By harnessing AI, the company aims to outwit the scammers. Visa’s Security Roadmap not only seeks to modernize outdated security measures but also to proactively combat future threats. The company acknowledges the changing strategies of cybercriminals and is determined to stay one step ahead.
As a part of its security strategy, Visa plans to utilize advanced AI tools to identify and neutralize AI-based scams before they inflict damage. This anticipatory approach is likely to significantly reduce the risk of consumers and businesses becoming victims of these increasingly common scams.
The move by Visa underscores the significance of continuous innovation in cybersecurity. As technology progresses, so do the threats it carries. By staying ahead of the curve, Visa is not only protecting its customers but also paving the way for other companies in the battle against AI-based scams.
