Lynx Tech’s Post

In the financial industry, #AI is a double-edged sword—bringing unmatched efficiency and innovation, but also presenting complex challenges that many are unprepared to face. Despite advanced security measures, financial institutions struggle to distinguish AI-driven fraud from other types of fraud. Remember: you can't protect what you can't see or understand. I discuss this rising threat on @Merchant Fraud Journal's "To Catch a Fraudster Podcast" https://lnkd.in/ehjAva8t

What approach should financial institutions take in adopting AI for AML and fraud prevention? "It's very achievable to overlay an AI-based solution to reduce the number of false positives by considering more data factors than a rules-based system can." "This can be integrated relatively easily into your process, giving you more operational efficiency quickly. Once comfortable, you can add in anomaly detection to enrich the alerting process more." - Michael Shearer, Chief Solution Officer at Hawk. In a recent podcast episode hosted by Karl Ivo 🎧 Sokolov, Michael talked about: - How can AI reduce false positives in financial crime detection? - What are the benefits of combining AI with a rules-based approach? - How does AI-powered anomaly detection enhance the alerting process? Watch the full podcast episode here: https://lnkd.in/eNzpYTZt If you'd like to know more about how AI can help your organization to enhance the efficiency and effectiveness of your AFC operations, book a demo with us at https://hawk.ai/ #aml #fincrime #banking #bankingtech #compliance #ai #machinelearning #financialinstitutions

📺 In this interview with Harrington Starr Fintech Focus TV, Gudmundur Kristjansson - GK, Founder and CEO of Lucinity, discusses a significant challenge facing the financial services industry. 💰He highlights the growing shortage of personnel available to operate AML and fraud systems, noting the alarming implications for banks and financial institutions. With compliance costs expected to hit $300 billion this year, half of which is allocated to human resources, GK emphasizes the strain this places on the industry's compliance efforts. 📹 Check out the full interview to learn more about what Lucinity is doing to help financial institutions meet compliance obligations while keeping costs at bay: https://lnkd.in/euvkkYeY #Fintech #AML #FinancialServices #Compliance #AI #Transparency #FinancialCrime

In today’s fast moving financial landscape, 🔎 detecting fraudulent activities on both inbound and outbound transactions is critical. Form3’s collaborative intelligence, driven by Feedzai’s advanced AI, leverages shared machine learning models across situations to deliver unparalleled protection. Helping to reduce false positives as well as enhance the accuracy and reliability of your fraud detection strategies. Discover our solution: https://form3.co/3KeO8a0 Our new eBook, Combatting APP Fraud: How to Build a Best-in-Class Fraud Prevention Solution, provides a navigational guide to how banks can rethink their approach to fraud prevention 👉 https://form3.co/3Watxdu #PaymentsPlatform #CloudNative #APPFraud #FinancialCrime #FraudPrevention #Fintech

Millions of fake IDs have flooded the US annually in the last couple of years. In 2021, that number was at 8 million, according to DSA (Document Security Alliance). Fake IDs are becoming easy to make, cheaper to get, and are increasingly getting good enough for the human eye to detect them. Our Co-Founder and Chief Visionary Officer, Alberio Bathory-Frota, and VP of Growth, Jason Swanson, were with Launchcode Chief Product and Marketing Officer, André Buarque, for the latest episode of the Launchcast. The conversation highlighted the problem of fake IDs and identity fraud, and spoke about how Patronscan is leveraging the advancements in technology and Artificial Intelligence (AI) to stay ahead of the bad actors. Patronscan’s technology extrapolates from 8,000 to 12,000 data points from each ID, for the most advanced ID verification process. Interested in learning more? Let’s talk. The link for the entire podcast is in the comments. #techpodcast #launchcast #ai #innovation #tech #lauchcode #safety #idverification #bootstraping #idverification #nighttimesafety

nSure.ai attended the 8th annual FRAUDCON during #CyberWeek2024 last week. The team converged upon Tel Aviv University to swap stories, share insights, and reconnect with peers. 🎓 We were proud to see Director of Fraud Operations, Maya Rabinovich Pomeranz, and Senior Fraud Analyst, Inbal Said, representing nSure.ai in roundtable discussions. In addition to learning a lot from our peers at FRAUDCON, #CyberWeekTLV confirmed what we already know to be true: implementing an adaptive payment fraud strategy is one of the most impactful ways for merchants to maximize their revenue under the growing threat of AI. 🧠 #CyberWeek #PaymentFraud #Fraud #AI

Join us on this week's episode of Uncontested Investing as Chris Branchetti from BCHH dives into technology, AI, and fraud prevention. Tune in this Tuesday! #uncontestedinvesting #fraud #technology #investing #investingpodcast 

This week's word by Formica AI is: Digital fraud! Technology is a great tool in our lives for sure but sometimes, it has some cons as well. See what digital fraud means in the attachment. 🖇📖 #fraud #digitalfraud #onlinefraud #internetfraud #frauddetection #fraudprevention To learn more about digital fraud, check out our blog here: https://lnkd.in/gDdSYBnw

How much have you heard about combating fraud with AI? For Onfido, the AI-powered end-to-end identity verification platform, fighting online fraud is imperative. We had Paul Jarratt, Vice President of Marketing Communications and Sales Enablement at Onfido, share with us how he thinks AI will impact the fraud industry over the following years. “We're seeing more and more fraudsters use cheap AI tools to try and spoof our systems. We must stay ahead of that; we’ve built our powerful AI tool,” he told Shameer in the latest podcast episode. Hear the latest chat on how to stay ahead of emerging trends and fight fraud, plus AI’s impact on marketing and content creation, from Paul Jarratt and Shameer Sachdev. #GrowthMarketing #FintechMarketing #fintech #TheFMLPodcast https://hubs.la/Q02ljR4l0

AI: The silent guardian of your money The fight against financial crime is getting smarter. Banks are harnessing the power of AI to detect suspicious activity in real-time, making our financial system more secure. 🛡️ By analyzing vast amounts of datain real time, AI can identify complex patterns that signal money laundering or terrorism financing. This not only speeds up investigations but also helps prevent crimes from happening in the first place. While AI is a game-changer, it's essential to address challenges like false positives and develop robust regulations. Follow AI Avenue for more cutting edge news about AI. #AI #Fintech #Cybersecurity #MoneyLaundering #Fraud #Crime