Deduce

The Fed’s half-point interest rate cut brought a new wave of loan activity—it also brought new AI-driven fraud into the financial system. Synthetic fraud attempts rose 184% in the last five years — one of the fastest-growing financial crimes in the US. My new piece in Security Management covers: - The scale of the synthetic identity problem - How synthetic identities mimic real customers - Shortcomings of current verification methods - How we leverage AI to distinguish humans from AI Read more here: https://lnkd.in/eFURmutx

Doug Mihalow, the Sr. Director of Credit & Fraud Risk Management at Best Egg, and a handful of senior fraud, security, and risk leaders are getting together on Thursday, November 21st from 9 - 10 am PT for a private virtual roundtable discussion focused on, “Executive Collaboration on Navigating the Latest AI-driven Account Fraud.” Attendance will be limited to foster more personal connections as well as the open exchange of experiences and challenges. You can reserve your spot at:  https://lnkd.in/ekzPhxsd I hope you can join us!

Doug Mihalow, the Sr. Director of Credit & Fraud Risk Management at Best Egg, and a handful of senior fraud, security, and risk leaders are getting together on Thursday, November 21st from 9 - 10 am PT for a private virtual roundtable discussion focused on, “Executive Collaboration on Navigating the Latest AI-driven Account Fraud.” Attendance will be limited to foster more personal connections as well as the open exchange of experiences and challenges. You can reserve your spot at:  https://lnkd.in/ekzPhxsd I hope you can join us!

"Simple" is a winning formula in AI. The best models aren't the most advanced – they are the ones that consistently solve real business problems and either make money or save money. Here are the key challenges we see: Not enough data to work with Wasting resources on overcomplicated solutions Working with messy, outdated, or poorly labeled data Instead, focus on building solutions that easily add value for your customers, where time to value is fast & ROI is Measurable

At Deduce Our competitive advantage isn't just algorithms – it's data. After five years of relentless infrastructure building, we've achieved >99.5% accuracy in real-time trust scoring through our proprietary identity graph. This success rests upon processing over 1.5 billion daily identity events from 150,000+ digital touchpoints. To aspiring AI founders: building your infrastructure and data foundation is a marathon, not a sprint. You can't shortcut the years needed to build reliable data pipelines and models. Be prepared for significant cloud computing investments, particularly as competition intensifies for premium NVIDIA-powered AI resources. The message is clear: True AI differentiation requires serious time and capital.

Community banks are being used as stepping stones for serious fraudsters to bolster ‘thin file’ credit reports. They’ll open accounts, take out small loans, and diligently repay them – all to build credibility for larger fraud schemes elsewhere. It's a long game that legacy fraud detection simply wasn't built to catch. These synthetic identities are projected to cost banks $40B by 2027. Working with @Alloy, we can help banks withstand these attacks. https://lnkd.in/db5_JMXF