A survey conducted by PwC found that in 2018, 49% of respondents said their companies were victims of fraud, up from 36% in 2016. — SCMP
An online buyer picks the most expensive product in the catalogue without doing a price comparison, carries out the transaction very early in the morning, and hesitates when typing in personal details.
This type of behaviour would raise a red flag among those tracking online fraud, and while this work has been done manually by specialist staff, financial institutions are increasingly turning to AI to help.
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