The intricate and evolving landscape of travel insurance fraud presents a significant challenge to the insurance industry. With the frequent one-off nature of travel insurance purchases and the financial temptation of fraudulent claims, the sector remains particularly vulnerable. This vulnerability
In an era where artificial intelligence (AI) is revolutionizing various sectors, the sophistication of AI-driven cyber threats has escalated significantly, posing a challenge for traditional fraud prevention systems. As businesses leverage AI for enhancing operations, fraudsters are concurrently
Proof, a leading identity authorization network, has secured a strategic investment from State Farm Ventures, the venture capital arm of State Farm®. This partnership is set to significantly advance Proof's mission to combat identity fraud and streamline operational processes within the
Swiss Re, one of the world's leading reinsurance companies, has revealed an estimated loss of less than $700 million due to the devastating wildfires in Los Angeles, California. This substantial loss represents approximately 35% of Swiss Re's total annual budget allocated for natural
The advancement of artificial intelligence (AI) technology has brought about numerous benefits, from automating mundane tasks to creating hyper-realistic digital content. However, this innovation has also given rise to a new form of cybercrime: deepfake fraud. The manipulation of audio, video, and
The role of internal audit leaders is evolving rapidly with the advent of artificial intelligence (AI). Traditional fraud detection methodologies are becoming increasingly inadequate in the face of sophisticated and emerging fraud schemes. This article explores how AI can revolutionize fraud
