Swift to Launch AI-Powered Fraud Detection in 2025
Monday, October 21, 2024
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Posted by: Sierra Lindemann
Swift will introduce AI-enhanced fraud detection in January 2025 to help global financial institutions tackle rising fraud threats. By analyzing pseudonymized transaction data across its network, Swift's new system can flag suspicious activity in real time. With financial fraud costs exceeding $485 billion in 2023, this AI initiative aims to strengthen security and protect the integrity of international payments.