https://insideainews.com/tag/fraud-detection/ Illuminating AI's Frontiers: Your Go-To News Destination. Fri, 02 Jun 2023 00:28:34 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://insideainews.com/wp-content/uploads/2024/06/iain-favicon.png https://insideainews.com/tag/fraud-detection/ 32 32 136462205 https://insideainews.com/2023/06/01/ai-empowers-microfinance-revolutionizing-fraud-detection/ https://insideainews.com/2023/06/01/ai-empowers-microfinance-revolutionizing-fraud-detection/#comments Thu, 01 Jun 2023 13:00:00 +0000 https://insidebigdata.com/?p=32514 In this sponsored article, Dmitry Dolgorukov, CRO and Co-Founder of HES FinTech, suggesets that to effectively combat fraud, microfinance institutions must establish robust fraud detection systems. Early detection and prevention of fraudulent activities are vital in minimizing financial impact and safeguarding the funds of vulnerable customers. Microfinance institutions face a significant menace in the form of fraudulent activities, endangering their provision of financial services to underserved communities. Fraud not only leads to substantial financial losses but also erodes trust in the system, impeding the mission of microfinance institutions to foster inclusive growth and alleviate poverty.]]> https://insideainews.com/2023/06/01/ai-empowers-microfinance-revolutionizing-fraud-detection/feed/ 1 32514 https://insideainews.com/2023/05/24/lets-talk-about-chatgpt-and-fraud/ https://insideainews.com/2023/05/24/lets-talk-about-chatgpt-and-fraud/#respond Wed, 24 May 2023 13:00:00 +0000 https://insidebigdata.com/?p=32465 In this contributed article, Doriel Abrahams, Head of Risk, U.S., Forter, explores how ChatGPT can combine with social engineering to conduct fraud, some of the generative AI trends he anticipates will play out this year, and how existing fraud rings could use the technology to manipulate both businesses and consumers alike. ]]> https://insideainews.com/2023/05/24/lets-talk-about-chatgpt-and-fraud/feed/ 0 32465 https://insideainews.com/2022/09/19/ach-fraud-and-ai-ml-much-work-to-be-done/ https://insideainews.com/2022/09/19/ach-fraud-and-ai-ml-much-work-to-be-done/#comments Mon, 19 Sep 2022 13:00:00 +0000 https://insidebigdata.com/?p=30392 In this article, I give focus to the situation with the financial services industry embracing AI/ML to a high degree in so many areas, one would think AI/ML would be used to detect and prevent ACH fraud, but this is not generally the case. Even the largest banking institutions seem to wash their hands with regards to ACH fraud, leaving their customers to absorb the losses. ]]> https://insideainews.com/2022/09/19/ach-fraud-and-ai-ml-much-work-to-be-done/feed/ 1 30392 https://insideainews.com/2020/12/04/how-to-catch-payments-fraud-with-ai/ https://insideainews.com/2020/12/04/how-to-catch-payments-fraud-with-ai/#respond Fri, 04 Dec 2020 14:00:00 +0000 https://insidebigdata.com/?p=25319 In this contributed article, Jon Lawrence, VP Product Management, at Oversight, discusses the role of AI in catching payments fraud and the ability to layer technology across the process to continuously monitor every transaction, examine every vendor, check every purchase order, audit every invoice and scrutinize each payment. AI transforms a passive, manual controls into a proactive automated process that alerts the right teams at the right time.]]> https://insideainews.com/2020/12/04/how-to-catch-payments-fraud-with-ai/feed/ 0 25319 https://insideainews.com/2019/05/10/anatomy-of-a-fraudster-how-bad-actors-are-outsmarting-conventional-prevention/ https://insideainews.com/2019/05/10/anatomy-of-a-fraudster-how-bad-actors-are-outsmarting-conventional-prevention/#respond Fri, 10 May 2019 15:30:37 +0000 https://insidebigdata.com/?p=22590 In this contributed article, Ting-Fang Yen, Director of Research at DataVisor, believes the future of fraud detection comes from the evolution of machine learning with a focus on unsupervised machine learning. Don’t sit by thinking that the old methods of fraud detection are sufficient for your organization. Fraud is becoming ever more sophisticated. If you are just keeping up, you are already behind.]]> https://insideainews.com/2019/05/10/anatomy-of-a-fraudster-how-bad-actors-are-outsmarting-conventional-prevention/feed/ 0 22590 https://insideainews.com/2018/07/12/interview-bill-waid-vp-general-manager-fico-decision-management-suite/ https://insideainews.com/2018/07/12/interview-bill-waid-vp-general-manager-fico-decision-management-suite/#respond Thu, 12 Jul 2018 15:30:52 +0000 https://insidebigdata.com/?p=20725 I recently caught up with Bill Waid, VP and General Manager of FICO Decision Management Suite to discuss FICO's long and deep history with AI and machine learning in the solution of business problems, most notably fraud detection. Bill also outlines the evolution of the company's use of this technology with its cloud enabled platform that combines analytics, decisions, and optimization into a Decision Management Suite (DMS). ]]> https://insideainews.com/2018/07/12/interview-bill-waid-vp-general-manager-fico-decision-management-suite/feed/ 0 20725 https://insideainews.com/2018/06/24/senzings-software-real-time-ai-entity-resolution-fight-financial-crime/ https://insideainews.com/2018/06/24/senzings-software-real-time-ai-entity-resolution-fight-financial-crime/#respond Mon, 25 Jun 2018 00:00:00 +0000 https://insidebigdata.com/?p=20630 Senzing, a new artificial intelligence-based (AI) software company, announced its Senzing software product to address the $14.37 billion financial fraud market. Senzing is an IBM spinout that has reinvented entity resolution, which senses who is who in real time across multiple big data sources.]]> https://insideainews.com/2018/06/24/senzings-software-real-time-ai-entity-resolution-fight-financial-crime/feed/ 0 20630 https://insideainews.com/2017/06/04/first-data-launches-new-merchant-solution-prevent-fraud-across-commerce-channels/ https://insideainews.com/2017/06/04/first-data-launches-new-merchant-solution-prevent-fraud-across-commerce-channels/#respond Sun, 04 Jun 2017 17:00:06 +0000 https://insidebigdata.com/?p=18051 https://insideainews.com/2017/06/04/first-data-launches-new-merchant-solution-prevent-fraud-across-commerce-channels/feed/ 0 18051