Fraud Risk II (On-Demand Single Course)

Strengthen your proficiency in fraud risk management and build practical skills to defend against evolving threats in the global payments ecosystem. 

Start by exploring the payment transaction lifecycle and the roles of issuers, acquirers, merchants, agents and Visa. From there, examine major fraud vectors — including token provisioning fraud, enumeration, card-present schemes and account compromise. See how social engineering, phishing, cashout tactics and physical theft intersect with digital threats while assessing mitigation strategies for both consumers and enterprises. Additionally, explore current trends in scam disruption, ransomware and data breaches, and compare AI-driven risks across generative and agentic models to inform forecasting and layered controls. 

Building on that foundation, learn how to develop a comprehensive fraud risk strategy and governance framework. Define mission, vision and goals; set key performance indicators (KPIs) and communication plans; and align responsibilities. Use risk analysis to inform controls and continuous improvement, map functions spanning prevention, monitoring, investigation, compliance and analytics, and operationalize the Three Lines of Defense and risk appetite in day-to-day decisioning while meeting legal, regulatory and industry standards. 

Next, learn how to construct a fraud risk control framework for both issuing and acquiring programs, translating policy into documented standards with clear governance, approval and review cycles. Explore monitoring standards, exception management, investigative follow-up and sound data retention with a focus on high-risk entities. Strengthen third-party agent risk management from onboarding and underwriting through contracting, capability evaluation, termination and audit readiness — leveraging Visa fraud risk resources, programs and standards to reinforce controls. 

Finally, compare manual, automated and hybrid detection approaches — from rules-based learning and risk-based alerting to machine learning and predictive scoring — using the Cross-Industry Standard Process for Data Mining (CRISPDM) methodology to select proxy targets, evaluate ensemble models and interpret outputs and limitations for operational use.  

Conclude the course by examining fraud investigation and remediation techniques. Practice incident response, from triage and real-time analysis to documentation, containment and recovery, while strengthening analytical and critical thinking. Apply interviewing and evidence-gathering best practices, documentation standards and chain-of-custody considerations, and meet reporting requirements and timelines with consistent fraud classification. Close the loop with chargebacks and dispute management, remediation planning, communication, lessons learned and post-incident review to prevent recurrence. 

Upon completion, you will return to your role equipped with a robust fraud risk strategy, governance model and control toolkit, ready to contribute to your organization’s fraud risk management efforts and adapt to ongoing industry evolution.