Episode 369: How can banks fight AI-powered elder fraud?

This episode examines an article from Independent Banker Magazine titled “How community banks are fighting AI-powered elder fraud.” Community banks are working to combat fraudsters using AI to target seniors. ICBA CRA Solutions has ramped up efforts to help community banks earn CRA credits by preventing elder fraud. Some statistics on elder fraud in 2023: 101,068 complaints, -$3.4 billion total losses, $33,915 average dollar loss per complaint, 5,920 complaints lost more than $100,000. A link to the article is included below.

Link: How Community Banks Are Fighting AI-Powered Elder Fraud