Model behaviour: Using AI to beat financial cybercrime

As the gatekeepers to personal and business wealth, banks and financial institutions are prime targets for cybercrime.  Financial cybercrime attempts are increasingly frequent, costly and highly successful in many cases. According to research and advisory group UK Finance’s report Fraud – The Facts 2021, the sector prevented £1.6bn of unauthorised fraud losses in 2020, approximately £6.73 in every £10 attempted. UK Finance’s Information and Intelligence Unit also helped protect over 2.1 million compromised card numbers in 2020.

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