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Baran Ozkan built Flagright after 15 months of searching for non-existent compliance software. The startup has now raised $12.5M to combat financial crime.
Aviva has uncovered a record £230 million in insurance fraud and is deploying AI tools to counter increasingly sophisticated fraud schemes. The insurance giant is using machine learning to detect anomalies and flag suspicious claims in real time.
The U.S. Department of Health and Human Services has launched an AI initiative to detect fraud and waste in federal health programs, shifting from a 'pay and chase' model to real-time screening.
Financial institutions deploying AI for fraud detection are finding that the same technology is being weaponized by fraudsters, according to Experian's 2026 Future of Fraud Forecast.
Mastercard has developed a large tabular model trained on billions of card transactions to enhance fraud detection in digital payments. The company plans to scale the model to hundreds of billions of data points for improved security.
