'Connected data is transforming the fight against fraud': New report warns AI is fuelling a major rise in…
- Zurich analysis of insurance claims has found that AI is behind 20% of fake claims
- A complex pattern of seemingly unrelated false claims are believed to be coordinated by AI
- Generative AI has been employed by organized crime rings to create fake evidence for non-existent incidents
AI has been driving a worrying rise insurance fraud, new analysis by insurance giant Zurich and AI analytics experts at Quantexa has claimed, with complex, organized crime rings have employed generative AI to make to fabricate supporting evidence in 1 in every 5 fake claims.
Scams as diverse as crash for cash and serial claimants were intelligently analyzed with repeated elements flagged for investigation. AI’s use as both a generative tool for fakery and as a tool to detect patterns and highlight criminality demonstrates how the technology is taking criminality and detection into a new era.
The analysis has so far led to £17.9...
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