Evolution of Scams and Fraud

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This chapter explores the evolution of scams and fraud, discussing various types such as synthetic identity fraud, money mules, credit card theft, and sophisticated personalized scams powered by AI. It highlights the 'big butchering' scam operated by a Southeast Asian gang and emphasizes the vulnerability of individuals in making scams profitable. The chapter also touches on the targeting of elderly individuals, the weakness in telephony and email infrastructure, and the founding story of Sardine, a company combating scams using behavior biometrics.

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Today’s show:

Sardine CEO and Co-Founder Soups Ranjan joins Jason to discuss the potential harms of generative AI re: fraud (9:53), the value of intrinsic AI (29:48), Sardine's fraud-prevention solution (26:02), and much more!

Time stamps:

(0:00) Sardine CEO Soups Ranjan joins Jason

(6:11) What Soups learned from his time as Coinbase’s director of risk management and data science

(8:36) LinkSquares - The go-to for all your legal needs. Learn more at https://⁠linksquares.com/twist

(9:53) Fraud in finance and spotting bad actors

(15:03) “Pig Butchering” scams and Kitboga’s crackdown

(24:35) LinkedIn Marketing - Get a $100 LinkedIn ad credit at https://linkedin.com/nextunicorn

(26:02) Using machine learning to prevent future fraud

(29:48) Extrinsic AI vs. intrinsic AI and doomsday scenarios

(33:53) What sets Sardine apart from other companies

(35:19) Roots - Head to https://investwithroots.com/TWIST to sign up and start investing today!

(36:53) Overlap in techniques, actors, etc. in fraud protection