From the course: The Data Science of Economics, Banking, and Finance

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Responding to financial scams and frauds

Responding to financial scams and frauds

From the course: The Data Science of Economics, Banking, and Finance

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Responding to financial scams and frauds

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- [Instructor] If you ever watched a movie fight scene, then you know how the bad guys, no matter how many there are, all wait to take turns to come at the hero one at a time. Very polite of them. On the other hand, when your problems multiply and come at you all at once, it's a whole different situation. And that's essentially where we are right now. I mean, it was bad enough before AI. Think of how many spam emails and text messages you got before say 2022. But the ability of AI and machine learning to scale up the assault massively makes it completely overwhelming. Now, there are ways of dealing with the fraud and the scams that come at you so quickly. A lot of these are consumer oriented, so things that you and I would do, and a lot of them fall into the common sense category, at least common sense these days. Don't open attachments from unknown senders, check the email addresses before you reply to somebody who claims to be your bank, don't click on messages from unknown numbers.…

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