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Fraud prevention is often labelled as one of the ‘quick wins’ for AI, and there is no dispute that the technology’s use is driving better detection.
The UK’s largest insurer is serious about fraud – launching a unique fraudulent behaviour identification tool that allows Aviva to screen real-time more than half a million motor insurance quotes daily.
Pindrop’s Voice Intelligence Report 2018 says that between 2016 and 2017 the overall voice channel fraud rate increased by 47%, continuing on the upward trend from last year’s 113% increase. Over the last four years, the fraud rate has climbed by over 350%, with no signs of slowing down.
Analysing the behaviour and mind set of fraudsters in correlation with individual business models is a unique ability to fight fraud
In the fight against financial crimes, today’s organizations must focus on building compliance programs that are increasingly driven by analytics.
The launch comes alongside new data released by the bank that reveals 18-24 year-olds are more than five times more likely to be scam victims than the over-65s.
Apple is going to start using phone call and email metadata in an attempt to combat fraud.
IFED is now targeting the age group in the second phase of ‘Steer Clear of Fraud’ via sharing information and leaflets with police forces nationally, campaigning on social media and attending events at universities across the country.
Fraud, like the mythical Hydra of Ancient Greece, is a many-headed foe that is capable of disrupting society in a number of ways
Analytics, combined with machine learning and artificial intelligence (AI), now offers a viable solution that allows service providers to proactively combat fraud before it occurs
Midlands Fraud Forum Ltd. Reg.No: 06436330 Copyright © March 2014