AI ADVANCES PROMPT TECH RACE BETWEEN FRAUDSTERS AND ANTI-FRAUD PROFESSIONALS
June 22nd, 2024
Anti-fraud experts are calling for an increase in cross-sector sharing of data relevant to fighting graft and deception to improve both quantity and quality of information fed into artificial intelligence (AI) models designed to predict fraud risks. They argue the need is important as bad actors use AI to develop increasingly sophisticated scams.
Indeed, the governor of the Bank of England, Andrew Bailey, said last December (2023): “While there is limited evidence that AI is behind large numbers of fraud attacks now, it will very likely drive an increase ...
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