Stunning however Obvious! The renown security organization McAfee estimates that cybercrime presently cost the worldwide economy around $600 billion.
Fraud has become the prime issue for financial enterprises. As the number of financial transactions are happening on an astonishing rate across the globe, the threat of fraud in transactions has also been increased. However, Artificial intelligence appeared as the most powerful technique to prevent financial scam.
To detect and prevent from fraud and scam of financial transactions, the tools and solutions leveraging AI has helped organization to increase security and streamline business processes efficiently. The basic fraud detection and prevention mechanisms were based on set patterns and analyzed through those restricted patterns. But concept and approached has changed now. The Artificial Intelligence helps to understands the authentic customer behavior thus making it a good choice to effectively detect new and emerging fraud attacks and threats.
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