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Under attack: The rise of AI-powered fraud in banking

Part 1: AI-driven fraud could cost US $40B by 2027

Madeline Durrett

Financial fraud is escalating worldwide. The global cost of fraud and cybercrime is projected to hit $10.5 trillion this year, with the financial services industry expected to be a prime target. The 250% jump from an annual loss of $3 trillion a decade ago has been driven largely by generative AI, according to a recent […]

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