When Fraud Stops Looking Like Fraud

How AI is Breaking Trust, Identity, and Financial Controls

Fraudsters have always been slick, doing their best to constantly stay ahead of financial institutions in their tactics. Recently, though, advancements in technology and the wide availability of consumer artificial intelligence (AI) products have helped these fraudsters bring their cons into the 21st century. With these advancements has come a shift not just in scale, but in the very nature of fraud itself.

AI's impact on fraud is already profound, and it is accelerating. With the right tools, fraudsters have unprecedented capabilities — and those tools are becoming ubiquitous.

AI can help fraudsters scale their operations with minimal cost. AI chatbots can run message-based scams automatically on a larger scale and have the added benefit of avoiding tell-tale syntax and typographical issues. Call-based scams can be run in any language. Fraud can now be personalized, even on the fly, giving the