The Challenge
Authorized push payment (APP) scams tricking customers into sending money to fraudsters.
The AI Solution
AI system monitoring transfers and payments in real time to detect patterns of scam and intervene by blocking transactions and prompting users with scam warnings.
Type of AI Used: Machine Learning anomaly detection
Results & Impact
Launched in Feb 2024, the system reduced fraud losses from such scams by 30% during tests. It can stop likely scam payments and initiate intervention flows.
