This alert may not be shared outside your organization, Do Not Repost or send, place on other websites, List servers, or send to others via email, including other associations or parties. Members and Law enforcement use only. Contact us for any permissions. To do otherwise will result in the loss of membership.
Complete Story
10/06/2021
Robot vs. Robot: PayPal Taps AI/ML in Battle Against Fraudsters, Chargebacks and Passwords
PYMNTS.com
Artificial intelligence (AI) and machine learning (ML) are helping merchants and online platforms get smarter about detecting risk.
The bad guys have high tech too. Deepfakes are gaining ground, along with synthetic identities. Major payments players are fighting back with a unity of sophisticated AI, ML and a mountain of data that outsmarts cyberthieves before they score.
Think of it as robot versus robot.
As PayPal’s Arthi Rajan Makhija, senior vice president of global fraud risk, digital identity and Platform-as-a-Service, told PYMNTS, the stakes are high.
“In this incredible acceleration to digital commerce that we have seen, particularly in the last two years since COVID, many different types of consumers are coming online for the first time,” she said. “You have the traditional, tech-savvy, educated consumer base. But we also have a consumer base coming online that doesn’t typically interact much in a digital ecosystem.”
Alerts
The FRPA alert system distinguishes us from other groups by gathering and providing information to law enforcement, retailers AND financial institutions.
more information
Resources
Your electronic library to help in fighting financial fraud for all of our partners.
more information