George W. Bush is an anti-fraud expert.
“There’s an old saying in Tennessee—I know it’s in Texas, probably in Tennessee—that says, fool me once, shame on — shame on you. Fool me — you can’t get fooled again.”
Because when a cyberattack is successful, it often leaves a trail. You can analyze this trail after the fact, as IBM notes.
“AI-powered machine learning models trained on historical data may use pattern recognition to automatically catch and block possible fraudulent transactions from being executed….
“AI systems used in banking fraud prevention are highly tuned for specific tasks. AI models are trained using large amounts of carefully curated data through a process called supervised learning. This method teaches the model to recognize specific patterns for specific tasks.
“In contrast, unsupervised learning allows AI systems to draw conclusions from previous data without directed training materials.”
This continuous improvement of fraud detection models benefits us all.
Bredemarket 