AI stops identity fraud before it occurs

Image: iStock/Ti_ser Fraud investigators from credit card companies used to call cardholders and ask if perchance they made such and such a purchase. Now when investigators call, it’s to inform cardholders their credit card information has been stolen and the account frozen, as fraudsters are trying to charge purchases to their account. That capability might seem Big Brother enough to concern aficionados of George Orwell. Alternatively, Jungwoo Ryoo, associate professor of information sciences and technology at the Pennsylvania State University suggests, “From the consumers’ perspective, fraud detection can seem magical.” SEE: Identity Theft Protection Policy (Tech Pro Research download) “The process appears instantaneous, with no human beings in sight,” writes Ryoo in Machine learning and big data know it wasn’t you who just swiped your credit card, an essay for…


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