While machine learning (ML) and automation are helping to fight financial crimes like fraud and money laundering, there’s still plenty of room for improvement. Since the onset of the pandemic, anecdotally, there’s been “a huge uptick” in first-party financial fraud, or fraud perpetrated not under false identities, said Sandip Nayak, chief strategy and artificial intelligence …

After almost a month in service, Linear Financial Technologies has seen success with its machine learning fraud detection program, Linear Defense. The technology is used to help prevent fraud in all stages of small business lending. “Since launching Linear Defense last month, market feedback has been very positive,” said Sandip Nayak, Chief Strategy & AI …