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Authors:
Mathieu Auger-Perreault, Partner & National Fraud Risk Consulting Leader
Ramzi Bou Hamdan, FinCrime and AML leader, EY Canada
Contributors:
Diana Danylenko, Senior Consultant, Risk Consulting,
Neharika Yadav, Manager, Financial Services and Risk Management
Generative AI (GenAI) is rapidly transforming the fraud landscape for banks. Traditional fraud defenses are proving insufficient as fraudsters leverage scams, including through the use of GenAI, to manipulate customers into authorizing fraudulent transactions. This article, written in collaboration between EY Canada and Feedzai, explores how AI and GenAI are game changers in the fight against scams and offers insights into how banks can innovate to stay ahead.