AI Fuels Rise in Fraud Losses

Artificial intelligence is increasingly being exploited to drive fraudulent activities, leading to significant financial losses for consumers, according to a new TransUnion analysis. AI-driven fraud schemes are becoming more sophisticated, making them harder to detect and prevent. This trend poses a growing challenge for financial institutions and consumers alike, as malicious actors leverage advanced technology to perpetrate scams. The report underscores the urgent need for enhanced security measures and AI-powered defense mechanisms to combat this evolving threat landscape.