How FIs Are Using AI and ML to Fight Scammers
Leveraging AI and ML to Thwart Scammers
Although authorized party fraud accounts for only 37% of FIs’ fraud losses in dollars, these types of attacks are the most likely to impact customer satisfaction and retention — something FIs cannot overlook. PYMNTS Intelligence’s latest 29-page report, “Leveraging AI and ML to Thwart Scammers,” a collaboration with Hawk, contains 8 charts of proprietary data examining the role of ML and AI to help keep fraudsters from getting the upper hand
Inside the May Data Brief
- 64%: Portion of FIs reporting incidents of IRS imposter scams
- 36%: Share of FIs that believe they should not be responsible for reimbursing customers for money lost in scams
- 53%: Portion of scams FIs report that involve product or services fraud
