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Visa Teams Up With FireEye To Take On Corporate Cybercrime

Michael Moore joined TechWeek Europe in January 2014 as a trainee before graduating to Reporter later that year. He covers a wide range of topics, including but not limited to mobile devices, wearable tech, the Internet of Things, and financial technology.

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Visa Threat Intelligence platform will allow companies to share information on the latest attacks

Visa is joining forces with security specialist FireEye in order to boost safety for its customers around the world.

The two companies have announced the launch of an online intelligence platform, Visa Threat Intelligence, which will use FireEye’s expertise in the cybersecurity space to help detect threats and protect Visa’s customers.

Subscribers can also use the service to share and view the latest intelligence on cyber attacks, threat analysis, and information on malicious software, meaning an end to sifting through hundreds of alerts to determine what areas needed to be protected.

Intensive

start ups business“By combining Visa’s unparalleled view into global payments and FireEye’s industry-leading cyber security expertise, we intend to bring faster, actionable intelligence directly to players across the payments system,” said Charlie Scharf, CEO of Visa.

The Visa Threat Intelligence platform will take a 3-step approach to preventing cybercrime, focusing on using past trends to anticipate attacks, preventing and preparing for both known and emerging threats, and reacting quickly to ‘new and likely threat’s more quickly, reducing the danger of costly breaches.

It is set to launch later this year, and will include a premium service that can use FireEye’s services to track the location that malware originated from.

“This cyber intelligence service is tailored to the needs of the payments industry, delivering real-time threat information to merchants and issuers so they can quickly assess and act on the most critical cyber attacks that could breach their payment systems. It will be a central portal for merchants to determine which attacks are the most relevant against their organisation – currently threat intel is often shared via email or through media reports,” said Richard Turner, FireEye president, EMEA

“By focusing on the active, most dangerous threats, Visa threat intelligence leads to both better detection capacity and a more effective response in the case of a breach, allowing you get ahead of an attack before a loss of data occurs.”

Visa has invested heavily into its digital security provisions in recent months as more and more of its customers go online to make payments. This includes the introduction of its Visa Token Service (VTS), which replaces the traditional information such as the 16-digit account number, expiry date and security code, typically entered to make a payment, with a unique ‘token’ series of numbers, meaning that customer information will no longer need to be kept by the retailer, following a number of major cyberattacks against large businesses in recent years.

The news is FireEye’s second major partnership in a matter of two weeks, following the announcement that they will be working with fellow security firm F5 Networks to develop and create “comprehensive” security services.

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