Artificial Intelligence & Machine Learning
,
Fraud Management & Cybercrime
,
Fraud Risk Management
Banks Must Prepare for the Coming Deluge
Global crime intelligence agency Interpol added to warnings about a coming torrent of artificial intelligence-enabled global fraud in an annual assessment assessing that victim losses reached $442 billion last year.
See Also: How Attackers Use AI to Outsmart Email Filters
Financial fraud is one of the top five global crime threats, alongside money laundering and drugs offenses, according to Interpol.
“Enabled by artificial intelligence, low-cost digital tools and increased global criminal collaboration, we are witnessing the industrialization of fraud,” said Interpol’s Secretary General Valdecy Urquiza while speaking at the UN Global Fraud Summit in March.
Numbers published by…
Use “Incognito” or “Private” browsing modes when using shared computers in internet cafes or libraries to ensure your login sessions are not saved on the local machine.