The AI in Business Podcast Navigating the New Retail and eCommerce Fraud and Risk Arms Race - with Venkatesh Palani of eBay
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Nov 27, 2024 Venkatesh Palani, Senior Director and Head of Engineering for Risk and Trust at eBay, dives deep into the complexities of eCommerce fraud. He shares insights on how AI fuels both fraud and protection efforts, discussing pressing issues like deepfakes and synthetic identities. Venkatesh examines the dark web's role in escalating fraud and the struggle of retail leaders amidst inadequate law enforcement. He emphasizes balancing user experience with robust fraud detection and the importance of data collaboration in the fight against evolving threats.
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Evolving Fraud Landscape
- AI democratization gives fraudsters new tools, like deepfakes, challenging identity verification.
- Phishing attacks are also becoming more sophisticated due to AI-generated content.
Deepfakes Challenge Identity Verification
- Deepfakes make it harder to verify identities because they can create synthetic IDs.
- Traditional methods of checking for duplicate photos on IDs are no longer effective.
Organized Fraud and Phishing
- Phishing attacks are often a starting point for more complex fraud.
- Bad actors are becoming more organized, using tools and data from the dark web.