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Beyond the Rules: How GenAI and Agentic AI Will Revolutionize Fraud Detection
Imagine this: banks have been using AI and machine learning algorithms for decades to combat fraud. They’ve relied on systems built on rule-based approaches, models trained with historical data to detect anomalies—like strange spending patterns, purchases made far from home, or those unusually large withdrawals that make us all pause. It’s worked well, but only to a point.