How to Use AI in Fraud Detection in the Financial Sector

How did you feel when you first heard a fire alarm? Did the fire alarm system play a significant role in helping you escape the blaze? Similarly, evil actors in the financial sector have developed fire-like strategies to steal financial assets.  According to IBM, the global economy lost about $4.45 million to fraud in 2023. Today, Advanced technology makes it easier for scammers to engage in several financial crimes. How would the financial industry operate if fraud can be detected and prevented, like a fire alarm system? In today’s article, you will learn how to use AI in spotting, stopping, […]

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