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How AI is revolutionising fraud detection

The Annual Fraud Indicator estimates that fraud costs the United Kingdom approximately £190 billion every year. The private sector is hit the hardest and loses around £140 billion a year, while the public sector loses more than £40 billion, and individuals lose roughly £7 billion. The effects of fraud can be devastating on both individuals and organisations. Companies can suffer irreversible damage to reputation and be forced to close, and individuals can experience sign...