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Stopping Scams with Artificial Intelligence and Machine Learning

FICO

By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US).

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Orchestration to Fight the Crescendo of Scams and Fraud

FICO

Orchestration for fraud detection and prevention more closely resembles coordinating a large picnic: Who’s bringing the sandwiches? For example, to assess a person to person (P2P) money transfer transaction for potential APP fraud, many pieces of customer data are relevant: Device (known or unknown computer, tablet or smartphone).

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