‘Is my customer human?’ Banks must rely on AI to uncover automated fraud

News • November 26, 2024

Generative AI (GenAI) is changing the game for businesses and becoming a new tool for fraudsters. Regulating AI and expanding the role of technology actors in the financial services sector is essential to curb the evolution of fraud.

According to the 2024 State of Scams Report by GASA & Feedzai, banking fraud and scams led to losses of US$1 Trillion Globally. These significant losses highlight that it is more important than ever for banks to stay one step ahead of criminals. Banks need to shift from responding to fraud to preventing it.

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Page printed in January 28, 2025. Plase see https://www.feedzai.com/inthenews/is-my-customer-human-banks-must-rely-on-ai-to-uncover-automated-fraud for the latest version.