How AI Is Increasing Fraud Risks Across The Fintech Industry

With the simultaneous arrival of easy-to-access AI tooling and real-time payments in the US, fraudsters are coming out en masse.

While death and taxes may be the only two supposed certainties in life, the continued transition from an analog to digital world makes it seem more likely that we will experience fraud and (still) taxes as the consistent, pervasive themes of our everyday lives.

This introduces vast implications for both consumers and businesses alike – whether it be the question of who is liable for the fraudulent activity or how much friction is introduced to the process to mitigate such activities. Furthermore, in a world that’s still predominantly built on trust, businesses are the ones taking a concerted and proactive approach to solve what might be one of the biggest challenges our digital economy faces today.