Reported 1 day ago
This holiday season, scammers are increasingly using artificial intelligence to craft more sophisticated fraudulent schemes, resulting in a dramatic rise in blocked fraudulent transactions. Visa and Mastercard reported significant increases in fraud attempts compared to last year, with AI enabling scammers to automate baiting victims and impersonating account holders. Despite banks ramping up consumer education and investing in fraud prevention technologies, many individuals continue to fall victim to these scams, underscoring a growing challenge for financial institutions.
Source: YAHOO