The US Treasury is using AI (a vehicle for fraud) to detect fraud
Briefly

from Engadget4 months ago
In the last fiscal year, the US Treasury has leveraged machine learning AI to prevent and recover over $4 billion in fraud and improper payments, marking a significant increase from the previous year.
Engadgethttps://www.engadget.com/ai/the-us-treasury-is-using-ai-a-vehicle-for-fraud-to-detect-fraud-123845481.html
A notable aspect of the Treasury's fraud prevention strategy is the use of machine learning AI to expedite the identification of Treasury check fraud, which accounted for one-fourth of the $4 billion recovered.
Engadgethttps://www.engadget.com/ai/the-us-treasury-is-using-ai-a-vehicle-for-fraud-to-detect-fraud-123845481.html
The Treasury's efforts included $1 billion in recovery and $2.5 billion in prevention, showcasing the critical role that advanced technology plays in financial oversight.
Engadgethttps://www.engadget.com/ai/the-us-treasury-is-using-ai-a-vehicle-for-fraud-to-detect-fraud-123845481.html
Plans to share this machine-learning technology with other federal agencies aim to enhance their fraud detection capabilities, indicating a broader governmental approach to combatting financial fraud.
Engadgethttps://www.engadget.com/ai/the-us-treasury-is-using-ai-a-vehicle-for-fraud-to-detect-fraud-123845481.html
Read at Engadget
#ai #fraud-detection #us-treasury #financial-oversight #machine-learning
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