BioCatch Releases Inaugural Annual Report on AI's Impact on Digital Fraud and Financial Crime [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
US:NYSE Investor Relations:
hsbc.com/investor-relations
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Source: Yahoo! Finance
NEW YORK April 24, 2024 /PRNewswire/ -- Nearly 70% of the 600 fraud -management, anti-money laundering, and risk and compliance officials surveyed in BioCatch 's first-ever AI-focused fraud and financial crime report say criminals are more adept at using artificial intelligence to commit financial crime than banks are at using the technology to stop it. Equally concerning, around half of those same fraud -fighters report an increase in financial crime activity in the last year, and/or expect to see financial crime activity increase in 2024. Published today, the report – from the global leader in digital- fraud detection and financial-crime prevention powered by behavioral biometric intelligence – depicts a troubling and burgeoning trend in which criminals with minimal technical expertise or financial crime skillset are using this new technology to improve the quality, reach, and success of their digital-banking scams and financial crime schemes. "Artificial intelligence can super
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