Visa Europe has launched a fraud-management service to help combat fraudulent cross-border ATM transactions, which are becoming an ideal target for fraudsters in countries without EMV chip-and-PIN technology, the company announced Oct. 18.
Visa Device Profiling is a subscription-based service designed to detect locations where suspicious cross-border ATM transactions are occurring by flagging irregular shifts in activity, Visa Europe noted in a news release.
Officials from the card brand were unavailable to discuss the initiative by PaymentsSource deadline.
Visa Europe developed the service for both card issuers and organizations that manage ATMs. Issuing banks may use it to manage ATM-fraud losses and to minimize inappropriately declined transactions. They also may use the service to compare fraud profiles with country and regional benchmarks to upgrade ATMs prone to attacks, Visa Europe contends.
ATM-management organizations may use the service to help identify suspicious ATMs, according Visa Europe.