Autumn Communications’ Post

Steinmetz explained that in cyberspace, “you have something called a zero-day attack, which basically means you’re going to get attacked on day zero, and you’re going to be attacked before you even know what the solution is. Because the bad actors are way ahead of you. It requires a more advanced and adaptable system, which rules-based models cannot provide.” This new reality has led to firms abandoning traditional rules-based authorization and fraud detection systems in favor of cutting-edge machine learning technologies. “That shift from rules-based to machine learning is an absolutely fundamental change in technology,” Steinmetz said. That reason is that fraudsters and bad actors tend to target connectivity points, and when new connectivity points come online, the sequential operations of rules-based protections generally break down or need to be retrained to understand this new vector. Comparatively, artificial intelligence (AI) and machine learning defenses can leverage contextual and behavioral clues to identify, flag and defang attacks from bad actors in a much more holistic way. https://lnkd.in/dCRHnvdK

Only two months in 2024, we starting to see how AI is being used to generate authentic and real ("deepfake") looking images, video and audio of people for financial gain. "Deepfakes utilize AI tools to create highly convincing fake videos or audio recordings, posing significant challenges for individuals and organizations to discern real from fabricated content." 💰The scam featured a digitally recreated version of the company's chief financial officer, along with other employees, who appeared in a video conference call instructing an employee to transfer funds. ✅️ The police have offered tips for verifying the authenticity of individuals in video calls, such as asking them to move their heads or answer questions that confirm their identity, especially when money transfer requests are involved. 👉 Share your thoughts and experiences below https://lnkd.in/gBdEe6Nn

AI is making scams easier and more convincing. It’s helping fraudsters find personal information, photos and videos and use them to create fake messages and even clone your voice or create ‘deepfakes’ all designed to trick even the most savvy people into handing over their money. Pressure is on organisations to protect themselves and their customers. Chris Wade Wade discusses what can be done: https://hubs.li/Q02r7Rhy0

💳” As AI gets more advanced, so do the fraudsters. According to the Federal Trade Commission, fraud cost consumers more than $7 billion during the first three quarters of 2023.” Continue the @BusinessInsider Article below 👇🏼

Find out why a layered defence is the answer to combatting cross-industry fraud from IDology. Read their latest blog now #Fraud #FraudPrevention #IDV

49% of businesses surveyed in a recent report on global fraud trends believe fraud attempts have risen over the past year. With tax season in full swing, firms must diligently track possible suspicious activity. A layered approach that relies on AI precision, human intuition and cross-industry intel can help detect and deter potentially risky transactions. https://lnkd.in/eh-5HnCM #fraud #fraudprevention #AI #ML #taxseason

The future, for better and for worse, is here. Are you prepared? If YOU are part of the IT security division in your organization - and things like this keep you up at night - shoot me a DM and I’ll share how Zscaler protects our customers in this area ☁️🔒

Explore the future of fraud detection with AI and ML! Our newest blog post uncovers innovative methods to defend against financial and tax fraud, enhancing accuracy and efficiency in identifying suspicious activities. If you are in private or public organizations from the finance sector, stay ahead in the digital age by understanding these powerful tools. For more information about our solutions, contact us! #smartit #frauddetection #artificialintelligence #machinelearning #financialfraud #taxfraud