Last week, FinCEN issued an alert on fraudsters using AI generated deep fakes to target financial institutions. It was a timely reminder on the evolving risks in the fintech and financial ecosystem. Yesterday, we hosted our first webinar: "Optimizing Your Onboarding in the World of GenAI Fraud" led by Dave, our head of risk. Dave shared his thoughts on the evolving landscape and our key points explored: 🔍 The economics of fraud: how to reduce the reward and raise the costs for fraudsters. 🤖 Why fighting AI with AI isn’t enough — and the importance of a multi-layered strategy. 🚀 Tactics like progressive onboarding to minimize friction for good users while catching bad actors. Fraud prevention requires a blend of cutting-edge tech, human oversight, and thoughtful strategies. Watch the webinar replay for actionable insights to protect your business while improving onboarding efficiency. https://lnkd.in/dnJt7gsM
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Executive Leadership for Sales, Pre-Sales Engineering & Consulting in Financial Services | Credit, Fraud & AI-Powered Risk Decisioning for Banks, Credit Unions & Lenders | Clinically Proven
If you are a leader at a bank or credit union, you know fraud is increasing. Our recommendations for mitigating fraud is to leverage multiple data sources -- even from different industries -- and to combine AI with human fraud expertise with case management. Provenir's team of experts have built a platform that can do just that. Read more here: https://lnkd.in/guACQFDn
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How generative AI is reshaping the fraud and financial crime landscape? Learn more about it! #SAS #GenAI For Fraud Week 2024, see four real-world examples of how anti-fraud pros are fighting back against scammers with the latest in AI and GenAI technology. http://2.sas.com/6040sIrlo
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Top tips to detect AI-powered deepfakes
Are AI scams a threat to your business? | Royal Bank of Scotland
rbs.co.uk
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AI to the Rescue! New System Targets Financial Fraud! With fraud on the rise, AI is stepping in to revolutionize how we detect and prevent it. Discover how this new AI system is helping financial institutions stay ahead of sophisticated scams and protect customers. Is this the future of fraud prevention? #AI #FraudPrevention #Fintech #Innovation #FinancialSecurity https://lnkd.in/ehV5kZHT
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Are you at the American Bankers Association Financial Crimes Enforcement Conference this week? Don't miss Harsh Pandya's panel discussion today! He'll be moderating "Your AI Model: Is It Ready for Prime Time?" during session 1B at 11:00 a.m., with a repeat session at 1:30 p.m. Speakers will discuss how, when, and why AI risks emerge, and the domains and subdomains most impacted by AI risks. #AI #FinCrime #BuiltInLabs
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Lifelong learner and tech enthusiast dedicated to empowering community organizations with innovative IT solutions.
"The Rise of AI Scams: How Organizations Can Stay Ahead" With AI being used to create everything from fake celebrity endorsements to cloned human voices, it's easy to feel overwhelmed and think that avoiding scams is becoming impossible. However, this isn’t true. While the technology has advanced, the core principles of verification and fraud prevention remain just as effective—if adapted to meet these new challenges. In this series of posts, I’ll be exploring the rise of AI-generated fakes, how scammers are leveraging them, and most importantly, how organizations can adapt their verification processes to protect themselves from financial and reputational harm. Stay tuned as we dive into both the risks and the solutions."
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In the heart of the city, an AI-powered financial district emerges. From robo-advisors to fraud prevention, AI is transforming money management. But, with innovation comes regulatory hurdles and ethical dilemmas. You can find your guide to getting around in the comments below. #weareofs #ai #transformation
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🌟 We're thrilled to announce that NetGuardians has been named a Category Leader in the 2024 Chartis RiskTech Quadrants for both Enterprise and Payment Fraud Solutions! 🌟 This recognition highlights our best-in-class capabilities (top ranking) for tackling some of the fastest-growing and most challenging fraud categories, including scams and social engineering. As scams become more sophisticated and prevalent, with over $1 trillion stolen globally according to Interpol, our commitment to innovation and advanced AI technology is more crucial than ever. A big thank you to our dedicated team, valued clients, and partners for their continued support and collaboration in achieving this milestone. Together, we make the financial world safer. Chartis Research Read press release here: https://hubs.la/Q02Lxg-W0 #FinancialCrime #FraudPrevention #Innovation #AI #NetGuardians #RiskManagement
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Here is a good update from Sift on how it uses AI. Here is a quick comment, but see the link for the full blog. “At the heart of The Sift Platform lies our deep investment in decision science: AI at the core, supported by our global data network, identity graph, and automated risk scoring engine. This “magic flywheel” consumes more than 1T events per year spanning 16,000 risk signals from hundreds of digital businesses across a diverse set of industries and geographies.”
🔥 BIG Announcement 🔥 Sift is ushering in a new Era of AI-Powered Fraud Decisioning Harnessing the power of AI, Sift continues to optimize the risk-reward equation for businesses and focus on empowering our customers and partners to #GrowFearlessly Sift has been at the forefront of AI-powered fraud decisioning for over a decade, passionately reshaping the relationship between growth and trust. With our comprehensive AI-Powered Fraud Platform, backed by identity-centric data insights, and a 12-year-tenured global data network, we're redefining the industry and continuously innovating to cater to our customer’s most critical needs. Read our latest blog to learn more about how Sift is revolutionizing fraud prevention with AI -- and check out the refreshed Sift.com to see what else is new. https://buff.ly/3IpFOn3 #GrowFearlessly #AIPowered #FraudPrevention #DigitalTrust #AI #Innovation #BusinessGrowth #Sift
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Our team creates and implements bespoke, holistic strategies for successful business owners to legally reduce their tax bills, diversify and protect their assets, and maximize their freedom through CPA partnerships.
Delve into the intricate world of financial fraud with our latest blog post: "How AI is Making Financial Fraud Harder to Spot." As AI reshapes industries like finance and banking, it's also fueling "intelligent fraud," making detection more challenging than ever. Learn how AI-driven tactics and deepfakes are reshaping the fraud landscape and discover cutting-edge solutions to safeguard against them. Read more: https://lnkd.in/eFdSrxzd #AI #FraudDetection #TechTrends 💼🔍
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