CyberNews Briefs

AI for Fraud Detection to Triple by 202

The Association of Certified Fraud Examiners (ACFE) projects that the use of artificial intelligence (AI) for fraud detection will triple by 2021. At the moment a mere 13% of firms use AI for detecting fraud, but an additional 25% plan to introduce this technology over the next two years.

The use of biometrics for fraud prevention is also expected to increase. Currently, 26% of businesses use biometrics for this purpose and a further 16% plan to start doing this by 2021. Overall, the majority of organizations (55%) aim to increase spending on anti-fraud technology in the next two years.

Read more: AI for Fraud Detection to Triple by 2021

OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.