Fraud detection

Companies lose an estimated 5% of their revenue each year due to fraud, according to a report from the Association of Certified Fraud Examiners.

When customers are targeted directly with fake text messages that lead to account takeover, artificial intelligence, and in some cases generative AI, can play a role in fighting the fraud, experts say.

Fraudsters are leveraging advanced artificial intelligence to impersonate customers and deceive financial institutions, but the industry is fighting back with detection systems.

One area of focus for the bank is using advanced artificial intelligence to detect business-email compromise. The payment messaging network Swift and online gambling host Caesars are also using AI to stop people from gaming their systems.

End-to-end automation remains a long-term goal as banks and insurers focus on point solutions, at least for now.

Old-fashioned check fraud is growing, and fraudsters find people to cash their checks — and tell them what to wear while doing it — through a popular messaging service.

The document automation company Ocrolus recently launched a new version of its fraud detection platform. Here's how it works and what other services lenders should consider.

U.S. brokerage units of JPMorgan Chase and UBS Group agreed to pay a combined $2.1 million in penalties to settle allegations from the Securities and Exchange Commission that they didn’t have the proper policies and programs in place to prevent customer identity theft.

The technology billionaire Romesh Wadhwani’s artificial intelligence software company agreed to buy BAE Systems' financial crime detection business, NetReveal.