On this week’s episode of Information & Views, The Fintech Instances Podcast Group talk about a brand new report by FICO uncovering Brits’ attitudes in direction of fraud and cybersecurity measures, the Revolut AI-scam characteristic that makes use of refined machine studying to detect if a buyer is being scammed and the worth of reported UK fraud doubling to £2.3billion in 2023, however the true worth probably being a lot larger.
After every week filled with fraud information, Polly, Tom and Francis make this episode a fraud particular, specializing in completely different features of how cybercriminals have advanced and the way companies are tackling fraud. The trio begin the dialog by discussing how banks and challengers are utilising AI to guard shoppers, spotlighting Revolut and its AI rip-off detection characteristic.
They then communicate concerning the lack of transparency in fraud reporting. The Podcast Group goes backwards and forwards on whether or not it’s higher to be extra moral and disclose fraud stats to the general public or maintain them locked away in an try to avoid wasting their picture.
The ultimate speaking level on the fraud particular appears to be like at biometrics. Whereas beforehand biometrics had been considered as a foolproof approach of guaranteeing nobody might entry knowledge, the emergence of AI has known as biometric safety’s energy into query. The dialog is concluded with the trio deciding if biometrics are an answer of the long run, or just a cool nicety.
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Learn the articles mentioned on this episode:
Biometrics are UK Shoppers’ Favorite Safety Measure as Want For Fraud Safety Will increase
Revolut Card Fraud Dropped by 30% Since Rip-off Detection Function Launch
Reported Fraud Doubles, However True Fraud Ranges Prone to be Considerably Worse; Warns BDO
