Visa’s Scam Disruption Practice Boosts Digital Payment Security in Armenia and Worldwide
14.04.2025 | 10:44 Home / News / Visa Voice /
Armenia is experiencing a rapid shift toward digital payments. A 2023 survey found that 52% of respondents possessed at least one non-cash payment instrument, while 76% of those in the youngest age group reported using cashless payment methods. The total value of payment card transactions more than doubled from 2020 to 2023, while transaction volume jumped from 81.2 million to 338.8 million.
Cybersecurity in the Digital Era
Despite this growth, fraud remains a top concern. Survey data indicate that 60% of respondents view cyber-attacks as the primary risk of cashless transactions, while 17% fear personal data leaks.
To address these challenges, Visa introduced its Scam Disruption Practice, an initiative aimed at identifying and dismantling complex scams before they inflict significant harm. It operates under Visa’s Payment Ecosystem Risk and Control (PERC) division, which has already demonstrated its effectiveness, helping prevent $350 million across various scams in 2024. This is in addition to the $40 billion PERC blocked in attempted fraud on the Visa network last year.
For Armenia’s growing digital economy, this adds an important layer of protection.
How Visa’s Scam Disruption Practice Works
Visa’s Scam Disruption Practice is built on three key pillars:
• Scam Intelligence: Using AI, data analysis, and investigative expertise to detect scams early.
• Proactive Scam Investigations: Monitoring and dismantling fraud networks before they cause harm.
• Scam Detection and Disruption: Collaborating with banks and law enforcement to shut down scam operations.
A striking example of Visa’s cybersecurity efforts involved identifying and shutting down a scam network of nearly 12,000 fraudulent merchants. Scammers used phishing links on dating websites disguised as legitimate identity verification sites, enrolling victims in recurring billing cycles. This takedown prevented over $37 million in losses and was referred to law enforcement authorities.
Ensuring a Secure Digital Future for Armenia
As Armenia embraces digital payments, Visa’s Scam Disruption Practice is a timely and necessary innovation. By leveraging artificial intelligence, thorough investigations, and industry-wide collaboration, Visa is setting new standards for fraud prevention. This initiative ensures that consumers and businesses can operate in a secure and trustworthy financial environment, reinforcing confidence in Armenia’s cashless future.
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Cybersecurity in the Digital Era
Despite this growth, fraud remains a top concern. Survey data indicate that 60% of respondents view cyber-attacks as the primary risk of cashless transactions, while 17% fear personal data leaks.
To address these challenges, Visa introduced its Scam Disruption Practice, an initiative aimed at identifying and dismantling complex scams before they inflict significant harm. It operates under Visa’s Payment Ecosystem Risk and Control (PERC) division, which has already demonstrated its effectiveness, helping prevent $350 million across various scams in 2024. This is in addition to the $40 billion PERC blocked in attempted fraud on the Visa network last year.
For Armenia’s growing digital economy, this adds an important layer of protection.
How Visa’s Scam Disruption Practice Works
Visa’s Scam Disruption Practice is built on three key pillars:
• Scam Intelligence: Using AI, data analysis, and investigative expertise to detect scams early.
• Proactive Scam Investigations: Monitoring and dismantling fraud networks before they cause harm.
• Scam Detection and Disruption: Collaborating with banks and law enforcement to shut down scam operations.
A striking example of Visa’s cybersecurity efforts involved identifying and shutting down a scam network of nearly 12,000 fraudulent merchants. Scammers used phishing links on dating websites disguised as legitimate identity verification sites, enrolling victims in recurring billing cycles. This takedown prevented over $37 million in losses and was referred to law enforcement authorities.
Ensuring a Secure Digital Future for Armenia
As Armenia embraces digital payments, Visa’s Scam Disruption Practice is a timely and necessary innovation. By leveraging artificial intelligence, thorough investigations, and industry-wide collaboration, Visa is setting new standards for fraud prevention. This initiative ensures that consumers and businesses can operate in a secure and trustworthy financial environment, reinforcing confidence in Armenia’s cashless future.
