Visa and FireEye Partner to Help Merchants Prevent Fraud

October 27, 2015, Written By Lynn Oldshue
a security lock on credit cards / credit card data security and encryption

Visa and FireEye have partnered to create a fraud prevention service, Visa Threat Intelligence (VTI), which aims to transform security breach information into actionable advice for issuers and merchants.

FireEye and Visa will create articles based on their investigation and analysis of worldwide breaches. VTI subscribers will receive this pertinent news and be given information about the tactics, techniques and procedures the attackers are using. Subscribers will also be told how to utilize this information to safeguard themselves against future cyberattacks.

In addition to receiving advice, subscribers will receive incentives to share their own experiences and provide tips for other companies.

VTI treats cyber threats much like health epidemics.

“Before vaccinations, diseases were quickly able to ravage communities and countries. Our hope is that VTI is thought of as inoculation, and once the population is immune to the threat, we want to make it a lot harder for criminals going forward,” Grady Summers, SVP and CTO for FireEye, said in a statement.

Summers said immunity will be built when subscribers take the information from attacks and build systems to prevent similar attacks in the future. VTI creates “Indicators of Compromise” (IOCs) that are technical models of attacks. They identify strains of malware or cyberattacker identities, including domain names or IP addresses.

There were a number of recent successes in the first half of 2015. FireEye uncovered six new strains of malware, most of which targeted POS terminals. Each strain triggered an IOC, which was then analyzed by Visa and FireEye to determine who was behind the attack and how the criminal moved through the system. With this information, businesses can learn how to better protect themselves.

Companies that handle their own security system will be most interested in VTI, as they can take this information and immediately protect their systems. Eventually, though, Visa and FireEye plan on making new features that will attract smaller businesses and merchants.

The information contained within this article was accurate as of October 27, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.