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04/07/2021
Bank fraud experts in S'pore use AI to predict scammers' next move
The Straits Times
SINGAPORE - Bank fraud experts are using artificial intelligence (AI) to outsmart scammers who think they can fool financial institutions into believing they are customers and gain access to funds in accounts.
They are harnessing the technology to monitor scammers' behaviour and predict their next move.
With the assistance of machine learning and data analytics, banks here and the police have built systems that monitor transactions on an unprecedented scale.
