Digital defenders: AI’s game-changing role in fraud and credit risk management

“Beware of scams” has become a common refrain among banks today, and rightfully so. In 2023, fraud scams and bank fraud schemes amounted to nearly $500 billion in projected losses globally, as per the NASDAQ Verafin 2024 global financial crime report. The surge in digitalisation has given rise to a parallel increase in fraud, posing a substantial threat to both individuals and financial entities.  

This session will outline the playbook on AI-powered fraud risk management framework and deep dive into strategies that can enable accurate and predictive assessments that aid in fraud detection and prevention.