WASHINGTON - Visa U.S.A. on Wednesday urged Congress to pass legislation aimed at deterring telemarketing fraud, a crime that the bank card organization said costs U.S. financial institutions about $8 million a year.

"Visa has instituted extensive internal procedures to detect fraudulent merchants," said Dennis Brosan, Visa's director of security. "However, fraudulent telemarketers develop new and sophisticated ways to evade detection, such as laundering sales drafts."

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