Treasury Department uses AI to recover $1 billion in fraud
- The US Treasury Department recovered $1 billion in check fraud during fiscal 2024 with the help of AI, according to estimates shared first with CNN.
- Overall, AI helped the Treasury prevent and recover over $4 billion in fraud in fiscal 2024, a six-fold increase from the previous year.
- The Treasury’s use of AI to combat financial crime is in its early stages, as fraudsters continue to exploit vulnerabilities in the system.
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Leaning Left9Leaning Right0Center9Last UpdatedBias Distribution50% Left, 50% Center
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C 50%
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