BioCatch’s Post

The Wall Street Journal reports how AI makes it challenging to identify robocall scammers. With generative AI, scammers create a more accurate imitation of victims’ voices and avoid traditional signs of a scam. Learn more: https://bit.ly/3XMrlKx #Scams #Robocalls #AI

As technology advances, the fraud threat landscape evolves with it. The article below from the WSJ highlights one new threat resulting from advancements in #AI: voice cloning as means to authenticate fraudulent money transfers. https://lnkd.in/e4tGRM25

With the advent of AI comes new and improved ways to scam you - be vigilant. https://lnkd.in/gBrCGKiu

Banks could lose billions to AI scammers, Deloitte predicts “A report from Deloitte predicts that banks could take a big hit from fraudsters using deepfakes, voice cloning, and other hyperrealistic AI content to scam banks out of money. The consultancy predicts that generative AI could enable losses from fraud to reach $40 billion in 2027—up from $12.3 billion in 2023—a compound annual growth rate of 32%.”... https://lnkd.in/gy463i4T

🚨 Ever been worried about AI scams? I just dropped a new video breaking it all down! I’ve been diving deep into the world of AI scams and wanted to share what I’ve found. From fake promises to straight-up fraud, here’s how these scams work and how you can stay safe: In the video: - What AI scams are and why they're popping up everywhere. - Sneaky tactics scammers use to fool even the tech-savvy. - Real-life stories of businesses that got burned. - How to spot a scam before it’s too late. Knowledge is power, right? The more you know, the better you can protect yourself and your business. If you’re curious or just want to stay safe, check out the video! And if you find it helpful, give it a thumbs up and share it with your friends. Let's keep each other safe from these scams. Stay safe out there! 💻🔒 Ps. Have you seen any AI scams yet? Comment below 😁 https://lnkd.in/gvQdMD8E

We have met the enemy, and they [deepfaked] us. #AI holds potential to help fight fraud, but it also holds potential to empower fraud attempts. In a battle where AI might be used against itself, where should financial services institutions stand and what could they be doing to prepare? Crowe specialists can help you discuss your strategies. Article by The Financial Brand https://bit.ly/3UhOV0b

The development of new payment systems for consumers has inspired merchants, software vendors, and financial institutions to become more creative in combating fraud. Artificial Intelligence has emerged as the go-to solution for reducing risk. Next generation AI promises to be even more of a game-changer in the world of fraud detection, not just uncovering but also anticipating fraudulent transactions. Read more: https://ow.ly/JZKA50Ql3Lu NeuroID #fraud #AI #artificialintelligence #payments

💻💸 As media attention focuses on financial institution use of #AI technology, it's important to remember that fraudsters are also trying their hand at #AItechnology. AI-powered #scams are becoming increasingly common, threatening the safety and well-being of your accountholders, employees and financial institution. ➡️ Read more: https://ow.ly/1eWk50PFU3N #fraudalert #fraudprevention #fraudpreventiontips #AIscams

What better way to share #WednesdayWisdom than with recaps of all the sessions from the 2023 Somos Summit!? From AI to an update by prominent Federal Communications Commission Bureau Chiefs to preventing telecom fraud in the finance industry, read up on all the exciting lessons learned! https://lnkd.in/gScijDbw #SomosSummit #AI #businessmessaging #texting #fraud #fraudprevention #finance

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