Visa’s advanced AI models improve fraud detection while lifting authorization rates by up to 20%. “I think that’s always going to be the story with fraud,” Munn said. “It’s such a big and booming criminal business.”The Problem With Treating Fraud Like an IncidentHistorically, fraud teams were measured on how much fraud they stopped. Fraud as MisclassificationFrom a data science perspective, the real risk is not just fraud, but misclassification, Munn said. Why Fraud Starts Before the TransactionAnother way data scientists see fraud differently is in timing.