13 Sep 2023
Technology has a vital role to play as financial institutions fight back against fraudulent activity, which continues to grow—Alloy's Annual State of Fraud Benchmark Report, 91% of respondents said that fraud rates have increased at their organization year-over-year. While solutions are available that help identify fraud, many lack visibility in...
07 Aug 2023
The emergence of artificial intelligence (AI) has given rise to a troubling new type of fraud that is extending digital impersonation beyond just dating platforms and reality TV and into the financial realm. Right now, fraudsters are increasingly using tools such as ChatGPT and Generative AI to create deep-fake personas, which they use to deceive ...
20 Jul 2022
When harnessed correctly, collaboration is an extremely powerful tool. It drives innovation, increases chances of success, improves communication...the list goes on. But did you know that collaboration is also the financial services industry’s best line of defense when it comes to meeting one of its greatest challenges – detecting digital fraud? ...
09 Mar 2022
While the massive financial cost of digital fraud is broadly understood – AFCE estimates that 5% of revenue across industries is lost to fraud – there’s less awareness regarding how this theft funds criminal activity worldwide. The Digital Fraud and Organized Crime Connection The fact that only 5-15% of synthetic loan applications are caught by leg...