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"Riskified - Risky Business: The AI Arms Race in Fraud"

The AI arms race in fraud prevention has reached new levels of sophistication, as fraudsters increasingly leverage AI-powered tools to exploit vulnerabilities in e-commerce transactions.

The AI arms race in fraud prevention has reached new levels of sophistication, as fraudsters increasingly leverage AI-powered tools to exploit vulnerabilities in e-commerce transactions.
 
During a recent webinar, experts from Riskified, including CMO Jeff Otto and SVP of Data Science Hilla Peled, discussed the rapidly evolving landscape where both legitimate businesses and cybercriminals are using AI to gain an upper hand. Their presentation highlights how organized fraud groups and opportunistic scammers are using cracked large language models (LLMs) and encrypted platforms to scale fraudulent activities, making it easier for even unsophisticated actors to commit financial crimes.

To counteract AI-driven fraud, companies must adopt AI-powered defenses that match the sophistication of emerging fraud tactics. Businesses that fail to implement AI-driven fraud detection risk falling behind in an increasingly hostile digital landscape.

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