Tencent’s artificial intelligence unit, Tencent Hunyuan (Tencent Hy), said Thursday (Oct. 15) that rogue AI agent activity covered in recent reports originated from evaluations of third-party models, not the company’s own models. “During these evaluations, some agents exhibited unintended web-browsing behavior, but our review found...
Banks have an opportunity to strengthen fraud prevention by looking more closely at payments that arrive with a valid login or a customer’s approval. That’s the central implication of the third key finding in “Scams Get Personal: Why Banks Pay More to Fight Fraud,” a...
Cybersecurity has always been an arms race. Artificial intelligence (AI) is turning it into a war of attrition, where the winner may be whoever can afford to keep fighting the longest. On Thursday (Oct. 15), for example, Sarah Breeden, deputy governor of the Bank of England...
England’s central bank is warning lenders they shouldn’t assume they are invulnerable to artificial intelligence (AI)-powered cyberattacks. Sarah Breeden, deputy governor of the Bank of England (BoE) said Thursday (Oct. 15) that advances in artificial intelligence (AI) meant the technology now presents a “systemic risk”...
Bank of America deployed 1,000 contractors and 3,000 employees to fix software flaws discovered by Anthropic’s Mythos and other frontier artificial intelligence models, CEO Brian Moynihan told CNBC in a report published Wednesday (Oct. 14). The bank added the contractors in the second quarter and...
For card issuers, artificial intelligence is moving closer to the transaction itself. Eighty-nine percent of issuers plan to adopt or expand at least one AI fraud capability, according to the PYMNTS Intelligence report “Investing Forward, Building the Edge,” done with Visa DPS. Half identify fraud...
Brooklyn’s district attorney’s office says it has disrupted a multinational cryptocurrency fraud operation targeting Russians in the U.S. The investigation by the office’s Virtual Currency Unit (VCU) and the FBI culminated in the seizure of 241 web domains and 112 servers, which revealed the millions...
OpenAI is in preliminary discussions to acquire cybersecurity company Trail of Bits, The Information reported Tuesday (Oct. 13), citing unnamed sources. The size of the potential deal was unclear, although OpenAI has in some cases paid hundreds of millions of dollars in stock to pick...
Fraud teams have spent years weighing whether artificial intelligence (AI) can improve on manual controls. For companies that have deployed the technology, the results are becoming strikingly apparent. Seventy-seven percent of firms using AI-powered fraud defenses say they get better results than they did with...