Is AI Friend or Foe to Fraud Fighters?

The promise of AI in the realm of fraud and security is both profound and perilous. While the latest advancements in AI empower financial organizations to detect and prevent fraudulent activities, they also equip sophisticated fraudsters with powerful tools to carry out their schemes on a broader scale. The rise of faster payments has further exacerbated this challenge, as fraudsters can now exploit the speed and efficiency of these payment systems to execute their schemes at an unprecedented pace, often with minimal effort required. Speakers in this session discuss how this dynamic potentially poses a significant threat to the integrity and trust in the financial ecosystem while also providing for potential advancements.