According to recent findings from CNN Business, the US Treasury Department began using enhanced fraud-detection methods powered by AI to spot financial fraud in 2022.
Partner Bryan Keighery noted that machine learning models are able to identify unusual patterns in an “almost endless supply of data.”
“A well-trained AI is capable of identifying subtle patterns and connections in data that . . . would be near impossible to be identified by humans,” Brian said. “This allows financial institutions to scour through the practically infinite amount of data available to them to help identify and either stop or remediate fraud.”