The Treasury's financial crimes arm alerted banks to the dangers of AI-powered fraud, urging close monitoring and swift reporting of any suspicious activity.

The Treasury Department is taking advantage of artificial intelligence (AI) to prevent or recover check fraud and stopped ...

Advances in the use of machine learning to catch check fraud have resulted in $1 billion in recovery, the department says. Treasury says that its “risk-based screening” prevented $500 million ...

Machine learning AI helped the US Treasury Department to sift through massive amounts of data and recover $1 billion worth of check fraud in fiscal 2024 alone, according to new estimates shared first ...

Today the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert to help financial institutions identify ...

Already, check fraud in the U.S. has surged by 385% since the pandemic, according to the Treasury Department. Check fraud, whether involving government or privately issued funds, continues to ...

Machine learning AI helped the US Treasury Department to sift through massive amounts of data and recover $1 billion worth of check fraud in fiscal 2024 alone, according to new estimates shared ...