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.
Insights by Ground AI
Does this summary seem wrong?
Coverage Details
Total News Sources0
Leaning Left9Leaning Right0Center9Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
L 50%
C 50%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage