Agentic AI could revolutionize online shopping but poses significant fraud risks. Payments professionals at Money 20/20 expressed concerns that criminals might exploit AI to execute scams more effectively. Programs like FraudGPT, available for subscription, could escalate fraud incidents by automating scams and creating synthetic identities. Executives highlighted challenges in verifying AI-driven transactions and the need for robust authentication processes to combat fraud as agentic AI technology becomes prevalent.
https://www.paymentsdive.com/news/how-agentic-ai-could-turbocharge-fraud-payments/804562/