Fraud Prevention, Scams & AI in Banking (With Jason Costain)-Ep #198

A deep dive into the evolution of banking fraud, the rise of sophisticated scams, and how AI and education are reshaping fraud prevention.

About the Episode:

Bank fraud is evolving faster than ever, and the criminals are getting smarter. What used to be mostly card fraud has shifted toward sophisticated scams that prey on human psychology — fear, urgency, and trust — often during moments when people are most vulnerable. In this episode, we look at how scam losses have now surpassed card fraud losses, what makes individuals such prime targets, and how criminal tactics are diversifying around the globe.

We also explore the rise of voice cloning scams and why AI is both a weapon for fraudsters and a critical tool for banks in detecting and stopping these threats. From dynamic payment warnings and gamified fraud education to cutting-edge biometric protections, you’ll learn what’s working, what isn’t, and where the next battles will be fought. This conversation goes beyond the tech, showing why the human element remains the biggest challenge — and the most important defence — in the fight against fraud.

About the Guest:

Jason Costain is a fraud trouble-shooter and the founder of Javloc.com, a boutique fraud consultancy that provides specialist fraud advice.

Jason has spent 30 years fighting fraud; building and leading successful banking fraud defence teams for some of the world’s biggest banks.  Jason specialises in fraud defence systems, scam prevention, biometric authentication, big data and artificial intelligence.  His opinions have featured in the Daily Telegraph, Forbes Magazine, The Wall Street Journal and The Times.  Javloc provides fraud and scam prevention advisory services to Banks, Global consulting firms and fraud defence softwareinvestors. 

Website: https://www.javloc.com/

Linkedin: https://www.linkedin.com/in/jason-costain-b529746/

Timestamps:

00:02:13 - Episode Commences
00:06:50 - Initial Interest in Fraud Prevention
00:11:48 - How the Internet has changed the view of Banking
00:16:30 - Difference between crypto & Traditional Banking
00:23:10 - The Future of Market
00:29:15 - Are Fraud Attempts Monitored by AI
00:38:12 - More About Fraud Prevention, Scams & AI in Banking
00:47:00 - The Future Thoughts on Fraud Prevention by AI
00:54:55 - The Breakthrough of Traditional Systems in Comparison to AI
00:01:02 - The Implementation of Banking Transaction Cards and Their Future
00:01:06 - Episode Concludes

Additional Notes:

For more check out the website: https://futuretechandforesight.com/

Or connect with me on –

Twitter: https://twitter.com/FutureTech_Pod

Linkedin: https://www.linkedin.com/company/futuretechandforesight/