AI Helps US Treasury Find Fraudsters!
The Treasury reported that the implementation of artificial intelligence led to a nearly fourfold increase in refunds compared to the previous fiscal year, during which $652.7 million was recovered.
“Fraudsters are really good at hiding. They try to covertly game the system. AI and the use of data help us find these hidden patterns and anomalies and work to prevent them,” the Treasury said.
According to Juniper Research, the total cost of online payment fraud is expected to exceed $362 billion by 2028.
