The Fraud Fighter's AI Playbook

Preface

People talking without speaking

People hearing without listening

People writing songs that voices never share

No one dared

Disturb the sound of silence

Simon & Garfunkel, “The Sound of Silence”

When the book Practical Fraud Prevention came out, it was common to hear that “software is eating the world”—which is why many of the chapters focus on down-to-earth ways that fraud fighters, data analysts, and payments professionals from diverse industries could use the power of software to stop fraud. Today, you’re more likely to hear that generative AI is eating software.

You are also more likely to hear that “AI is taking everyone’s job” or that “anyone can do anything with AI” these days. To a certain degree, it’s true. GenAI has democratized skills that were previously available only to experts. Sadly—and unsurprisingly—this also means more fraud.

As Ken Palla, former director at MUFG Union Bank and advisor to the RSA eFraud Global Forum, put it, “Like it or not, AI is here. It will be used for evil and for good. This book discusses both sides of AI from a fraud manager’s perspective. It is up to date. It doesn’t give you the answers but helps you think about how to navigate the world of AI.”

The speed and scale of generative AI’s impact on almost every aspect of our digital world are so astounding that they can be difficult to comprehend. Our children notice it, our parents notice it, our social feeds are practically poisoned by it, and every person in our professional ...