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I scammed my bank

AI has armed fraudsters with sophisticated new technologies like deepfakes to carry out their attacks on a larger scale than ever before, leading to a rise in scams targeted at customers as well as fraud attacks targeted at banks. The good news is that there are tools out there to help financial institutions defend both themselves and their customers. In conversation with Amanda Hoover at Business Insider, Alloy GM of Global Fintech Jason Ioannides shares how banks should approach fraud prevention in the era of AI. 

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Banks should stay nimble and have layered approaches to detect quickly evolving fraud. You're never going to stop 100% of fraud. And banks generally won't be perfect, but their defense lies in making themselves less attractive to a bad actor than other institutions.

Jason Ioannides, GM of Global Fintech at Alloy

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