How is AI changing the fraud landscape?

AI is changing how fraud is carried out. Fraudsters can now use AI to create more convincing scams, targets victims more precisely, and expand the reach of their attacks faster. As the same time, banks and businesses are exploring how AI can help detect suspicious activity and strengthen fraud prevention.

“AI is giving bad actors the ability to scale, focus, and target how they interact with specific individuals. This gives them more opportunities to put their hooks into users and then ultimately, they facilitate these money movements.”

Albert Laino, Senior Solutions Consultant for Digital Banking, Bottomline

It's also making familiar threats such as business email compromise (BEC), account takeover and phishing harder to detect. Knowing how these threats are changing, and where AI itself can support fraud detection, can help organizations build a stronger defense.

The eBook explores:

  • How AI is changing fraud: See how fraudsters are using AI to make social engineering more convincing, targeted and scalable.
  • The AI-enabled fraud threats to watch: Understand emerging risks including deepfakes, AI-created invoices, IT impersonation and credential theft.
  • Why familiar fraud schemes are getting harder to detect: Explore how AI is increasing the sophistication of ATO, BEC, phishing and insider fraud.
  • How AI can help fight fraud: Learn how AI can help analyze large volumes of data, identify patterns and escalate suspicious activity for review.
  • Why a layered approach matters: Discover the role technology, controls, employee training and human expertise can play in preventing AI-enabled fraud.

“I do think AI can be helpful for sorting and helping you escalate, but there always needs to be that human intervention and that human review.”

Katie Elliot, Senior Risk and Fraud Officer for Paymode, Bottomline

 

AI may be changing the tools fraudsters use, but fighting fraud still requires more than technology alone. Download the eBook to learn how banks and businesses can combine AI, human expertise and proven fraud prevention practices to build a layered defense against AI-enabled fraud.

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