The Anti-Fraud Technology Benchmarking Report assessed data from more than 1000 ACFE members regarding their organizations’ use of tech to fight fraud, discovering that while only 13% of businesses currently use AI and machine learning to detect/deter fraudulent activity, another 25% plan to do so in the next year or two.
Other key findings discovered that 26% of organizations are using biometrics as part of their anti-fraud programs, with another 16% expecting to deploy biometrics by 2021, while more than half of respondents (55%) plan to increase their anti-fraud tech budgets over the next two years.
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“As criminals find new ways to exploit technology to commit schemes and target victims, anti-fraud professionals must likewise adopt more advanced technologies to stop them,” said Bruce Dorris, JD, CFE, CPA, president and CEO of the ACFE.
