Fraud: the artificial intelligence arms race is on

Artificial intelligence (AI) is fast becoming the defining technology of our age. As with any new technology however, bad actors are equally adept at harnessing its power for their own nefarious ends. The power of AI has seen fraudsters increasingly able to penetrate banking and payment systems. As in any conflict, there is an arms race between the defenders and attackers developing. In the case of card fraud, fortunately the defenders are winning.