Using Artificial Intelligence to Combat Card FraudGord Jamieson of Visa Canada Offers an Update
Artificial intelligence is playing an important role in the ongoing fight against payment card fraud, says Gord Jamieson, senior director of Canada risk services at Visa. He'll offer a keynote presentation on the latest fraud trends at Information Security Media Group's Cybersecurity Summit in Toronto Sept 24-25.
In an interview with ISMG, Jamieson notes that the explosive growth of IoT and the rise of 5G networks could exponentially increase the amount of potential data exposure - but they also could offer new fraud detection opportunities.
"While we see that as an exposure, we also see that on the other hand as an opportunity because we're seeing all this data flowing through our system," Jamieson says. "We're using artificial intelligence and analyzing every transaction to try to identify what we believe is a good transaction or a bad one."
In this interview (see audio link below photo), Jamieson also discusses:
- What has changed in the card fraud landscape in the past year;
- Why card-not-present transactions are seeing old types of fraud resurface;
- The role of AI and machine learning in detecting and mitigating IoT fraud.
Jamieson is senior director of Canada risk services at Visa. Previously, he served as a member of the Royal Canadian Mounted Police for 20 years, where he investigated organized crime involvement in forged credit card manufacturing and distribution.