Can banks outsmart AI-driven fraud before it’s too late?
Source: Live Mint Between April and September 2024, 18,461 frauds were reported, involving a staggering ₹21,367 crore—an eightfold jump compared to ₹2,623 crore last year. The number of cases, too, has surged by nearly 28%. Beneath these numbers lies a growing threat that financial institutions are struggling to counter: sophisticated fraud in loan applications. Digital…