With the advent of image processing software such as Photoshop or Illustrator, document fraud has become commonplace. In fact, according to a Allianz Trade study published in 2022, 69% of businesses say they have experienced proven fraud. However, it is possible to fight against this rise in fraud, especially with artificial intelligence. AI, through the use of algorithms, monitors your various data and stops fraud attempts against your business. However, how does AI actually detect fraud risks? What are the 3 ways in which AI is used to detect fake documents? We will answer you in this article!
Artificial intelligence is a major solution to fight against documentary fraud. By relying on incoming data, it allows you to reduce fraud threats before they happen.
If we take the banking sector as an example, according to a survey conducted by Accenture, 48% of banks around the world have reported a Increase in online scams over the last two years.
The fraudsters' method is simple, rather than manually hacking credit or debit cards, they use automated computer programs, called “bots.” These programs will then attempt to reproduce a large number of possible combinations in order to guess certain information, in particular credit card numbers or security codes. Thanks to these bots, fraudsters make millions of login or payment attempts in a very short period of time. Businesses must therefore constantly strengthen their security measures to counter these attacks.
Through textual analysis, its automation and its ability to adapt, artificial intelligence can detect this type of fraud quickly. For example, it can monitor user behavior by distinguishing bots from people and by differentiating between benevolent and malicious bots. That's what we call behavioral analysis.
For a company, the textual data to be processed is often large: emails, product reviews, invoices, compensation claims etc. By analyzing the various written materials, using artificial intelligence, the company can quickly identify the falsification of a document.
Indeed, artificial intelligence analyzes several parts of the text, including:
One of the major challenges in the fight against fraud is to deal with fraud that is increasingly sought after and specialized.
Unlike humans, automated systems can work around the clock, allowing for constant monitoring of your incoming documents.
Take the real estate sector as an example. When a customer submits supporting documents when buying or renting a property, the real estate agency will then proceed with the verification of the documents. In order for control to take place quickly, the company can automate the process using artificial intelligence. This allows instant checks and ensures a conformity for your customers.
In addition to reducing human errors, artificial intelligence accomplishes tasks that are often considered tedious, in a simple and effective way.
Artificial intelligence is a process in perpetual evolution and who shows a real ease of adaptation. Thanks to this, it can process incoming data and block threats in just a few milliseconds. Practical for detecting fraud in your business!
The plus of AI? Elle improves over time. By communicating data to it, it offers you almost instant solutions.
So, the more you feed your artificial intelligence, the better your results will be!
La responsiveness AI as well as sound specific configuration also allow it to reduce the number of documents called false positives. As a reminder, a false positive is a document that has been detected to be false and is proven to be true. It can be frowned upon for a business to detect false positives because it calls into question the legitimacy of their customers.
Take the case of a documentary fraud detection system used in the financial sector. When you provide it with examples of authentic and false documents, artificial intelligence learns to recognize fraud patterns, potential alterations, and to issue alerts almost instantaneously. By continuing to enrich this AI with new examples, it is becoming more and more effective in detecting document fraud attempts. So, the more you feed AI with relevant data on the various forms of document fraud, the better its ability to prevent fraudulent activities in the financial field will be.
To discover the benefits of AI for a health consulting firm, read our article: Proxicare, interview with Hélène Lathieyre mission director
In order to stay on the lookout for the latest fraud, Finovox offers a turnkey solution. Its purpose? Raise your awareness of document fraud and protect yourself and your teams from it!
The solution to fight fraud is not unique! Combining artificial intelligence, human knowledge and anti-fraud detection software ensures better detection of falsifications.
To learn more about ChatGPT and our experts, you will find our dedicated article below 👇
Detecting a fake document - GPT chat VS the Finovox experts
And if you want to find out more about our solution, do not hesitate to ask our experts for a demo. They will be happy to provide you with information!
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