See Also
See Again
AI is being used to catch billions of dollars worth of fraud
AI has helped to recover US$4 billion worth of American taxpayers' money in 2024
© Getty Images
Financial fraud is increasing at an alarming rate and is expected to reach almost US$400 billion in the next four years. That is why the federal government has begun deploying AI to help combat the problem-and it’s working.
So far, AI has aided the US Treasury Department in recovering $4 billion worth of fraud this year alone, with $1 billion being check fraud. That is six times the amount that was recovered in 2023, and it's helped to protect people receiving Social Security, Medicaid payments, tax refunds, federal worker paychecks, and much more. However, this year has also seen a sharp rise in deep fake videos that are being used to trick people into parting with their money.
So, is AI a blessing or a curse? Click on and join us as we explore what our future with artificial intelligence might hold, both good and bad.
RECOMMENDED FOR YOU
MOST READ
- Last Hour
- Last Day
- Last Week
-
1
CELEBRITY Relationships
-
2
HEALTH Viruses
-
3
LIFESTYLE Sports
-
4
LIFESTYLE Children
-
5
-
6
-
7
LIFESTYLE Housing
-
8
LIFESTYLE Existential crisis
What is purpose anxiety, and how can you tell if you have it?
-
9
LIFESTYLE Dating
-
10
LIFESTYLE History