Team8 a global venture fund that builds and invests in companies across cybersecurity, data, AI, fintech, and digital health, as well as their intersections, unveiled its latest report, Fraud Exposed: An In-Depth Look at AI and Other Disruptive Trends and Technologies Shaping the Fraud Landscape. This comprehensive analysis provides a roadmap for how AI and other disruptive technologies are reshaping the fraud landscape while offering practical insights and innovative frameworks to empower the financial services industry. The publication was written by Team8’s fintech leadership, with guest commentary provided by Mastercard, Moody’s, AWS, Alloy, Ballerine, and Charm Security.
“The stakes have never been higher as fraudsters increasingly harness advanced technologies like AI to bypass traditional defenses and target users on platforms outside the direct oversight or security perimeter of banks”
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The report highlights the growing fusion between fraud prevention and cybersecurity teams within large enterprises, and the potential for AI to power a new generation of fraud defenses that are more adaptive than the AI tools employed by criminals. It also examines how evolving regulations are driving innovation and why faster, more convenient payment technologies amplify the urgency for new fraud prevention frameworks and solutions.
Fraud Exposed draws on insights from Team8’s cross-domain experience in cyber and fintech, showcasing the value of Team8’s unique “attacker’s perspective” methodology. Rooted in extensive red team experience, this approach provides a window into how fraudsters and scammers think, operate, and adapt. By factoring this in, organizations can anticipate vulnerabilities and preempt attacks before they occur.
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Fraud isn’t just a technological issue. The report reveals how fraudsters and scammers are moving away from attacking systems and devices to exploiting the weakest link in security: humans. Through social engineering and deceptive tactics, scammers target human vulnerabilities, making individuals a key line of defense. By integrating data analytics and psychological insights into fraud prevention solutions, organizations can build resilient systems capable of outpacing even the most sophisticated scammers.
“The stakes have never been higher as fraudsters increasingly harness advanced technologies like AI to bypass traditional defenses and target users on platforms outside the direct oversight or security perimeter of banks,” said Ronen Assia, Managing Partner at Team8. “With the rise of real-time and account-to-account payments, generative AI, and mounting regulatory pressures, the financial industry must embrace proactive, intelligence-driven strategies to protect customers and build resilience.”
Another key insight from the report emphasizes the shift to a narrative-based approach to fraud prevention. Fraud should no longer be seen as a standalone event; instead, solution providers must assess it across its entire lifecycle, from reconnaissance and escalation to exploitation.
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Source – prnewswire
