How AI Helps Fight Fraud In Financial Services, Healthcare, Government And More
NVIDIA News, Wednesday, January 22nd, 2025
Companies and organizations are increasingly using AI to protect their customers and thwart the efforts of fraudsters around the world.
Voice security company Hiya found that 550 million scam calls were placed per week in 2023, with INTERPOL estimating that scammers stole $1 trillion from victims that same year. In the U.S., one of four noncontact-list calls were flagged as suspected spam, with fraudsters often luring people into Venmo-related or extended warranty scams.
Traditional methods of fraud detection include rules-based systems, statistical modeling and manual reviews.