This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties.  Members and Law enforcement use only. Contact us for any permissions.  To do otherwise will result in the loss of membership.

Complete Story


Visa’s Provisioning Intelligence Service Wages War Against $450 Million in Token Fraud


The value of tokenization — where sensitive information is replaced by unique algorithmically generated numbers and letters — has gained wide acknowledgement in commerce.

James MirfinVisa’s global head of Risk and Identity Solutions, told PYMNTS that fraudsters are perking up to tokenization’s potential to be used for illicit purposes. 

Bad actors are illegitimately gaining access to, and provisioning, those tokens through ruses tied to social engineering and other scams as they lure issuers to grant them the tokens.  

The costs are considerable: Visa has estimated that fraud losses reached an estimated $450 million globally in 2022 alone as fraudsters have used the tokens for subsequent transactions. 


Printer-Friendly Version



The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.

more information


Your electronic library to help in fighting financial fraud for all of our partners.

more information