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Visa confronts AI fraud with new deal
Visa announced its acquisition of BIoCatch for $2.4 billion to enhance cybersecurity and fraud prevention capabilities. Founded in 2011, BIoCatch specializes in real-time fraud detection through analysis of users' behavioral and biometric signals, helping to prevent theft attempts before they happen. This deal, which is expected to close by the end of the second quarter of 2027, will expand Visa's protection services to 1.8 billion devices and 760 million users worldwide, supporting the company's efforts to reduce cyberattacks that cost the global economy over one trillion dollars annually, increasingly driven by artificial intelligence. This acquisition aligns with Visa's strategy to invest in anti-fraud technology, having invested more than $13 billion over the past five years in this area.
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