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In the AI Era, Fooling the Banks is Nearly Impossible

  • Cybercriminals are outpacing traditional fraud detection methods, prompting a shift to AI-driven fraud detection in banking.
  • Banks are transitioning to proactive, real-time fraud detection to detect suspicious activity mid-transaction.
  • Fraudsters are adapting to traditional rule-based monitoring, necessitating a shift to AI-driven platforms for better fraud detection.
  • Implementing AI in fraud detection requires robust data engineering, advanced platform capabilities, and increased collaboration between banks, regulators, and government agencies.

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