May 8, 2024 at 05:33PM
Netcraft, the leader in digital risk protection, unveiled its Conversational Scam Intelligence platform to combat escalating financial scams. Leveraging generative AI, the platform disrupts criminal attempts, exposing hidden financial networks and deploying countermeasures. This proactive approach aids in preventing fraudulent schemes and mitigating risk for banking providers globally. For more information, visit www.netcraft.com.
The meeting notes highlight the launch of Netcraft’s new Conversational Scam Intelligence platform, aimed at disrupting and preventing financial scams using advanced AI technology. With a focus on uncovering criminal networks and deploying countermeasures, the platform has shown early success in identifying and mitigating pig-butcher scam attempts.
Netcraft’s approach involves engaging criminals in private message threads to extract critical insights, helping to disrupt and prevent future attacks. The use of generative AI has allowed the identification of thousands of criminal-controlled bank accounts, mule accounts, and crypto wallet addresses, enabling customers to proactively flag or block payments to and from compromised accounts.
The company’s leadership emphasizes the importance of deploying new strategies to counteract current threats and criminal behavior in response to shifting regulatory landscapes in the US and UK. The focus on leveraging AI, machine learning, and human-written rules to detect and disrupt cybercrime at scale aligns with Netcraft’s mission to provide a safer online experience through constant innovation and extensive automation.
Overall, the launch of the Conversational Scam Intelligence platform represents an important advancement in combating financial scams and protecting organizations and individuals from digital threats.