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AI Fraud Skyrockets: Businesses Lose Millions, Startups Respond

4/11/2025

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Summary

Story summary

AI-driven fraud is surging, with over 40% of corporate scams now fueled by technology. In 2024, nearly 90% of businesses experienced attacks, with half suffering losses exceeding $10 million. In response, African startups like Dojah and Paystack are harnessing AI for real-time monitoring and identity verification, bolstering digital payment security and compliance.

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Story summary

AI-driven fraud is surging, with over 40% of corporate scams now fueled by technology. In 2024, nearly 90% of businesses experienced attacks, with half suffering losses exceeding $10 million. In response, African startups like Dojah and Paystack are harnessing AI for real-time monitoring and identity verification, bolstering digital payment security and compliance.