05 Oct AI And Cybercrime: Is Fraud Detection The Final Backstop?
This week in cybersecurity from the editors at Cybercrime Magazine
Sausalito, Calif. – Oct. 5, 2024
An invisible war surrounds us: cybercriminals versus the security of data and money. This battle has been a constant since the inception of the computer age, with cyber threats evolving in sophistication and scale.
Cybercrime costs are projected to top $10 trillion by 2025. Cybercrime Magazine notes: “More than half of all cyberattacks are committed against small-to-midsized businesses (SMBs), and 60 percent of them go out of business within six months of falling victim to a data breach or hack.”
But there is a new weapon at our disposal: artificial intelligence. This futuristic technology promises companies a new level of defense against hackers, right?
Unfortunately, the answer is not so simple. Cathy Ross, the finance and tech expert behind Fraud.net’s AI-powered risk management platform, explains in a Forbes article.
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