Traditional rule-based systems, once sufficient for detecting simple patterns of fraud, have been overwhelmed by the scale, ...

Explainable AI plays a central role in validating model behavior. Using established explainability techniques, the study examines which financial variables drive fraud predictions. The results show a ...

OpenAI's top executive is warning that artificial intelligence is about to supercharge bank fraud at a scale the financial ...

Recent analyses reveal that artificial intelligence, intended as a tool for combating financial fraud, is instead amplifying risks by enabling more advanced scams and eroding trust in financial ...

Artificial intelligence-generated documents and deepfake tools fractured Know Your Customers programs, as synthetic identity ...

Fraud is no longer merely a nuisance. It’s become a significant, evolving threat that can cost businesses more than money. It holds the power to break down customer trust, slow operations and expose ...

Informed.IQ raises $63M from Invictus to expand its AI-powered loan verification platform, aiming to reduce fraud and enhance efficiency.

Last year, Deloitte, a financial auditing and consulting firm, reported an instance where a Hong Kong company sent USD 25 million to a fraudster who was using deepfake technology to impersonate the ...

Banks should take a page from the health sciences' playbook and use artificial intelligence to "nudge" consumers away from transactions that have the characteristics of known fraud schemes, writes ...

What’s driving the rise in digital fraud? The global payments landscape appears more dynamic and complex than ever before. As e-commerce spending accelerates toward an estimated $8.1 trillion by 2028, ...

Others leverage AI to monitor customer journeys, identify pain points, and provide seamless virtual assistance. These ...

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