From securityboulevard.com
AI and ML technologies have made great strides in helping organizations with cybersecurity, as well as with other tasks like chatbots that help with customer service.
Cybercriminals have also made great strides in using AI and ML for fraud.
“Today, fraud can happen without stealing someone else’s identity because fraudsters can create ‘synthetic identities’ with fake, personally identifiable information (PII),” explained Rick Song, co-founder and CEO of Persona, in an email interview. And fraudsters are leveraging new tricks, using the latest technologies, that allow them to slip past security systems and do things like open accounts where they rack up untraceable debt, steal Bitcoin holdings without detection, or simply redirect authentic purchases to a new address.