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00:02Visa agreed to acquire fraud prevention company BioCatch for $2.4 billion in cash,
00:07expanding its AI-powered cybersecurity and fraud detection capabilities, according to Benzinga.
00:12BioCatch's behavioral intelligence platform uses artificial intelligence and machine learning to
00:17analyze user behavior, device activity, and network signals to identify fraud in real time.
00:22Visa said the acquisition will strengthen its ability to detect scams, account takeovers,
00:26money mule activity, and application fraud before payments are made.
00:30The company said fraud and scams cost the global economy more than $1 trillion annually,
00:34and that AI is making attacks more sophisticated.
00:37Visa said the acquisition strengthens its cybersecurity portfolio after investing more
00:41than $13 billion in technology and infrastructure over five years to improve payment security and
00:47reduce fraud. The deal is expected to close by the end of Visa's fiscal second quarter of 2027,
00:53subject to regulatory approvals and other customary closing conditions.
00:56For all things money, visit Benzinga.com.
