Visa aims to reduce fraudulent credit card transactions

Visa recently stated it has enhanced its software to prevent credit card fraud, such as identity theft, according to NPR.

The credit card company has improved its technology to detect many different kinds of behavior, such as the frequency of transactions on a credit card, how far apart the transactions are being made and other variables, reported the news source.

David Fish, an analyst with the Mercator Advisory Group, said thieves have been taking advantage of the way credit card companies manage different types of credit fraud.

Identifying and reducing credit card fraud can be very beneficial to consumers. If a thief gets a hold of your physical credit card or your personal information, they can purchase expensive items in your name, causing you to accumulate unexpected debt. This can lead to a black mark on your credit report.

Visa hopes that the improved software will catch more criminals and cut down on fraud overall. However, if you find yourself a victim of credit card fraud and it has affected your credit report, you may want to speak with a credit repair company to help you file a dispute.