Visa Europe recently announced a partnership with the University College Dublin Centre for Cybercrime Investigation to help fight card-not-present fraud online, Visa Europe reported earlier this month.
Visa Europe generally defines cybercrime as any type of illegal online activity to steal a consumer’s identity, sell contraband, stalk consumers or disrupt operations, which means all online payment systems are, to some extent, targets for abuse, Valerie Dias, the card brand’s chief risk officer, tells PaymentsSource.
Working with the university will “broaden industry knowledge of high-tech financial crimes and the way fraudsters operate to ensure payment systems adapt to continually changing fraud and business risk,” Dias says.
Through the partnership, the university will assist Visa Europe in research and development, help develop security features, and support the development of training courses for judges and prosecutors, Dias says.
Law-enforcement officers, judges and prosecutors “all need the necessary skills and knowledge to bring [cybercrime cases] to a successful conclusion,” Dave O’Reilly, a representative for the centre for cybercrime investigation, noted in a recent news release regarding the partnership.
Fraud-fighting features Visa Europe uses when processing online payments include chip-and-PIN, real-time scoring, card verification data collection and Verified by Visa, Dias says.
Verified by Visa is an online card-security protocol system. Purchasers are required to register their cards with Visa to get a secure password for use when shopping online.
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