In this edition of our Digital Trust & Safety Roundup, our Trust and Safety Architects share insights on the role of AI in fueling (and fighting) fraud, Sift’s Jane Lee shares more about her work and career path, and Sift receives a key industry recognition. Read on for the latest fraud findings from Sift.
Fighting AI fraud with AI-powered fraud prevention
Almost a year after the introduction of generative AI tools like ChatGPT, the buzz and debate about its benefits and its dangers are still top of mind. This summer, Sift Trust and Safety Architect Brittany Allen sat down with two Sift customers, fraud experts from Mindbody and Zipcar, to discuss the effects of AI on both fraud and fraud prevention.
If you missed the webinar live, you can watch the recording on our website.
Sift CEO Kris Nagel also highlighted the Sift findings discussed in the webinar in his interview with Unite.AI: “We knew that AI and automation would change the fraud landscape, but the speed and volume of this shift are truly remarkable. More than two-thirds (68%) of U.S. consumers have reported an increase in spam and scams since November, right around the time generative AI tools started gaining adoption, and we believe those two trends are strongly correlated.”
Sift’s VP of Trust and Safety Kevin Lee recently sat down with SafetyDetectives to talk about the evolving landscape of fraud and the importance of using AI (specifically machine learning) to fight AI-driven threats. Read Kevin’s full interview.
A look into the role of a Sift Trust and Safety Architect
Jane Lee, Trust and Safety Architect at Sift, has been in the fraud-fighting industry for years, delving deep to uncover schemes like the Pig Butchering crypto romance scams. But you may not know much about the career path she took to get to where she is today, or how her work researching emerging scams and fraud trends informs her job at Sift. Here’s what she had to say about her Pig Butchering research in a recent interview with TechBrew:
“I wanted to go deeper into the scam because I was seeing it on dating apps myself and, from a professional perspective, we want to make sure that our customers are protected, since we have customers in both the dating app space and the crypto space. After going undercover on this, or working to identify new patterns or trends in fraud more generally, I take whatever my team and I learn to make sure our products and technology are effective.”
For an even deeper dive into Jane’s experiences researching fraud and scams, take a listen to this recent episode of the Privacy Please podcast.
Industry recognition for Sift
Two of Sift’s key values that inform how we approach our product improvements and innovations and the services we provide are “Ever Better” and “Start with the Customer.” That’s why Sift’s recent recognition being named a Leader in The Forrester Wave™: Digital Fraud Management, Q3 2023 report has been so meaningful and validating of the work we do. Sift was only one of two fraud solution vendors to be named a Leader in the report, among 15 competitors.
Sift also received the highest possible scores in the channels and transaction types, nonpayment fraud and policy abuse, and roadmap criteria. As quoted in the report: “Sift is a great fit for firms looking for a solution that covers a range of payment types but also policy abuse fraud and scam prevention.”
Find out more about the report and what this means for Sift.