How can AI and collaboration combat rising financial crime?

In a conversation ahead of Sibos 2024, Laura Quevedo, Executive Vice President of Financial Crime and Resiliency at Mastercard, highlights the growing threat of financial fraud in the digital age as cybercriminals increasingly use AI to exploit consumers. Companies are increasing their investments in cybersecurity and AI technology to stay ahead of evolving threats, as AI-powered tools such as real-time fraud detection solutions are critical to preventing financial crimes. Quevedo emphasizes a three-pronged strategy: leveraging AI to prevent fraud, collaborating across industries to share insights, and educating consumers about emerging scams.