Covid-19 frazzles AI fraud systems

Seismic changes in customer behaviour see machine learning solutions throw out false positives

Fraud scam

Banks are reporting a sharp rise in cases of internal and external fraud perpetrated during the coronavirus pandemic – and with typical patterns of behaviour among retail and corporate clients turned on their respective heads, detection systems that rely on past patterns of behaviour to make predictions are struggling to cope.

In ordinary times, machine learning technology can dramatically improve fraud detection rates by spotting transactions that look atypical of observed customer behaviour

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.