Reported by FinTech Global Ever since its launch in November 2022, Generative AI has been the topic of discussion on everyone’s lips when it comes to discussing transformational technology. In the area of KYC, could we expect Generative AI to have significant long term impacts? In the view of Ted Datta, senior director, head of […]
Reported by Sheila Chiang Payments giant Visa is using artificial intelligence and machine learning to counter fraud, James Mirfin, global head of risk and identity solutions at Visa, told CNBC. The company prevented $40 billion in fraudulent activity from October 2022 to September 2023, nearly double from a year ago. Fraudulent tactics that scammers employ include using AI to […]
Reported by StudyFinds Staff Almost half of Americans (48%) believe that the rise of artificial intelligence has made them less “scam-savvy” than ever before. With AI working its way into education, finance, and even science, a new survey finds many people don’t know who to trust anymore. The poll of 2,000 U.S. adults revealed that […]
Reported by Samantha Leathers As Amazon Prime Day rolls around, bargain hunters are out in force, but they’re not the only ones on the prowl cyber scammers are also looking to cash in on the frenzy. Vonny Gamot, Head of EMEA at online protection firm McAfee, has dished out advice on how Brits can sidestep the scammers during […]
Reported by Jason Branning, CFP, RICP Retirees need to be aware of emerging threats from the stories that are transmitted through various technologies. These threats could impact online security and gain access to your bank savings or investment accounts. Understanding that there are trapdoors that can be accessed or exploited through the technology is widely […]
Reported by Greg Iacurci Employment scams surged last year, as criminals leveraged artificial intelligence to steal money and personal information from unsuspecting job seekers, experts said. Consumer reports of job scams jumped 118% in 2023 from the prior year, according to a recent report by the Identity Theft Resource Center. Thieves generally pose as recruiters and post fake job listings to […]
Reported by Selena Kuznikov Morgan Freeman shared a note giving thanks to his fans Friday morning, expressing gratitude for users’ efforts calling out unauthorized AI imitations of the actor’s recognizable voice. The celebrated 87-year-old actor has become legend for his narration in films such as “March of the Penguins,” “The Shawshank Redemption” and “Million Dollar Baby.” […]
Reported by Robert Lemos, Contributing Writer Over the past two years, researchers at UK-based fraud-defense firm Netcraft used a chatbot based on Open AI’s ChatGPT to respond to scams and convince cybercriminals to part with sensitive information: specifically, banks account numbers at more than 600 financial institutions spanning 73 different countries that are used to […]
Ever since its launch in November 2022, Generative AI has been the topic of discussion on everyone’s lips when it comes to discussing transformational technology. In the area of KYC, could we expect Generative AI to have significant long term impacts? Reported by FinTech Global In the view of Ted Datta, senior director, head of […]
Reported by Vanguard Reports The global market for AI-powered KYC (Know Your Customer) solutions in the banking industry has witnessed remarkable growth in recent years, driven by the increasing adoption of advanced technologies to enhance regulatory compliance, customer onboarding, and fraud detection processes. According to a report by Grand View Research, the global artificial intelligence […]
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