Banks turn to AI as digital fraud schemes surge globally
Published on: Aug. 30, 2025, 6:01 p.m. | Source: Devdiscourse
The global shift toward digital banking has been dramatic, with the volume of cashless transactions increasing year over year. While this growth signals progress in financial technology, it has also created fertile ground for sophisticated fraud schemes. The authors note that traditional rule-based systems, still widely used in many banks, are increasingly inadequate. These older systems rely on static parameters and cannot adapt to evolving fraud patterns, often producing high rates of false positives that disrupt legitimate transactions.
