Fighting fire with fire: AI in the fraud arms race
It comes as no surprise when we note that fraud is reaching unprecedented levels as bad actors leverage both the old (traditional document manipulation) and the new (AI-generated fraud) to their advantage. In 2023, fraudsters used a variety of techniques including digitally altered documents, biometric fraud (such as the impersonation of people), and online tools and generative AI.
Most companies are asking what tools they can use to protect their customers, partners, and themselves.
In this video interview, Peter Counter (Editor in Chief, FindBiometrics) and Michael Van Gestel (VP Expert Services, Onfido) discuss how AI can be used to address the current fraud crisis, confronting misconceptions about machine learning, and digging into Onfido’s proactive work on staying ahead of bad actors in the ongoing fraud arms race, including the company’s new Fraud Lab.
more digital forgeries in 2023 compared to 2021
more effective fraud prevention when video is used over still images
When many people hear about AI, they think about the deepfake aspect... it’s AI, it’s scary; and it’s not, they don’t think about the counter – or the protection against fraud aspect.
Michael Van Gestel, VP of Expert Services, Onfido
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