AI tools helped Treasury recover billions in fraud and improper payments
Risk screening, check fraud detection and more have helped the government recover more than $4 billion, Treasury announced.
US Treasury Says AI Tools Prevented $1 Billion of Fraud in 2024
The Treasury says it identified or recovered $4 billion in fraudulent payments last fiscal year, a sixfold increase over the previous year.
Treasury Department uses AI to recover $1 billion in fraud
The Treasury Department is taking advantage of artificial intelligence (AI) to prevent or recover check fraud and stopped more than $1 billion in fraudulent payments over the past year, the agency announced Thursday.
The US Treasury is using AI (a vehicle for fraud) to detect fraud
U.S. Treasury Leverages AI to Prevent Over $4 Billion in Fraud in 2024
On October 18th, the US Department of Treasury announced that their latest effort in preventing fraud and improper payments has recovered over $4 B which was lost in the year. The department shared that they took a technology and data-driven approach.
US Treasury's AI tools recover $1 billion in fraudulent payments
The U.S. Treasury Department combats fraudulent payments by deploying artificial intelligence to detect suspicious transactions.
Treasury kept $4B away from fraudsters this year. It plans to triple that by 2029
Department officials are building on these fraud-prevention efforts, and expect to prevent $12 billion in improper payments annually by 2029.
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