Back to today’s briefing

Story perspectives

90% of Banks Use AI to Combat Fraud, But Risks Rise

5/14/2025

35 6

Summary

Story summary

A striking report shows that 90% of financial institutions are harnessing AI to fight fraud, with 30% zeroing in on identity verification. However, the rise of generative AI brings new hurdles, as 60% of experts note its role in scams. Mastercard leads the charge, monitoring a staggering 160 billion transactions yearly to bolster fraud detection while tackling bias and data privacy issues.

1 of 1

Story summary

A striking report shows that 90% of financial institutions are harnessing AI to fight fraud, with 30% zeroing in on identity verification. However, the rise of generative AI brings new hurdles, as 60% of experts note its role in scams. Mastercard leads the charge, monitoring a staggering 160 billion transactions yearly to bolster fraud detection while tackling bias and data privacy issues.