Surge in AI fraud leads to revenue losses

Three-quarters of UK firms report increase in online fraud

Nearly three-quarters (73%) of UK businesses have seen an increase in online fraud over the past 12 months, according to a new survey by Veriff. The global identity verification firm’s UK Fraud Industry Pulse Survey polled 200 fraud professionals across financial services, technology, and retail sectors. The same proportion of those surveyed (73%) reported that online fraud has negatively affected their company’s revenue in the past year. For al…

Surge in AI fraud leads to revenue losses

A new report reveals that 73 percent of UK fraud professionals report that online fraud has negatively affected their company's revenue in the past year. The UK Fraud Industry Pulse Survey from Veriff shows 72.5 percent of businesses have seen an increase in online fraud over the past 12 months. For 64 percent of businesses, this translated to revenue losses of between one and nine percent, costing them millions. More alarmingly, nine percent of…

An AI Fraud, An Inconvenient Truth

Welcome to Black Sheep, a spin-off publication of my serialized memoir. SMIRK. While SMIRK was a deep dive into my unusual personal and professional relationship with one unique white-collar fraudster— Martin Shkreli — Black Sheep takes a broader view and tells the stories of a wider range of business crimes and failures.This publication will examine cultural themes and motives that contribute to lying, cheating, stealing, and related self-infli…