What's Going On With Visa Stock Today?

Visa Inc. (NYSE:V) shares are trading lower on Tuesday.

The banking behemoth has launched a new initiative aimed at tackling complex scams and preventing massive financial losses.

The company’s newly formalized scam disruption practice, under its Visa Payment Ecosystem Risk and Control division, prevented over $350 million in attempted fraud in 2024 alone.

This achievement is in addition to the $40 billion Visa blocked on its network last year.

The latest development comes on the heels of a warning issued by Bank of America Corporation to a select group of customers about a possible data breach, which could have potentially exposed sensitive data, including personal details and Social Security numbers.

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Bank of America said it is now offering identity-theft protection services to potentially affected customers, indicating its efforts to mitigate the impact of such breaches and restore customer trust.

Meanwhile, Visa said today that it has invested over $12 billion in technology over the past five years to enhance fraud detection and network security.

The new program combines cutting-edge technology with human expertise, drawing from diverse professionals, including former law enforcement and military personnel.

Visa’s Scam Disruption team works proactively to identify and stop scams before they cause major damage.

Using advanced tools, Visa analyzes vast amounts of data to identify patterns and networks tied to fraudulent activities. In one notable case, Visa uncovered a scam network involving merchants falsely posing as identity verification services.

The team dismantled the operation, shutting down nearly 12,000 fraudulent merchants and preventing over $37 million in losses.

Visa’s proactive approach also includes collaborating with financial institutions, law enforcement, and third-party partners to disrupt scam networks at the root.

Recently, Visa was under scrutiny by Senator Richard Blumenthal due to its partnership with Elon Musk’s X Corp. to launch X Money, a peer-to-peer payment platform.

Blumenthal raised concerns over Visa’s involvement with X, especially in light of Musk’s leadership of the Department of Government Efficiency and its impact on regulatory oversight.

“DOGE’s actions to diminish the enforcement reach of the CFPB could boost Visa’s new business interests with X Money,” Blumenthal wrote. 

Price Action: V shares are trading lower by 2.33% to $333.53 at last check Tuesday.

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