What is the Visa Fraud Monitoring Program (VFMP)?

***The following copy has been extracted from Visa Core Rules and Visa Product Service Rules (October 13, 2018).***

Visa monitors merchants that generate an excessive level of fraud through the Visa Fraud Monitoring Program (VFMP). Visa will identify a merchant under the VFMP standard program if it meets or exceeds any of the following monthly program thresholds:

• Both:

– USD 75,000 fraud amount

– 1% fraud-dollar-to-sales-dollar ratio

• Effective through 31 October 2020 In the US Region: For domestic counterfeit Automated Fuel Dispenser Transactions, both:

– USD 10,000 in US Issuer-reported counterfeit fraud in the previous calendar month

– 0.20% counterfeit fraud-dollar-to-sales-dollar ratio in the previous calendar month

• Effective 1 October 2018 In the US Region: For domestic Verified by Visa Transactions, both:

– USD 7,500 in US Issuer-reported fraud in the previous calendar month

– 0.75% fraud-dollar-to-sales-dollar ratio in the previous calendar month