Document Fraud Detection is trending

Published on   2023-10-14

Resistant AI Collaborates with Instabase to Strengthen Document Fraud Detection for Customers.

Resistant.AI specializes in detecting manipulated or otherwise fraudulent documents. While such technology has been around for checks for a long time (it is unbelievable how many checks are counterfeits!), it is relatively new for documents like invoices or other financial documents. From physically tampering with paper documents to digitally altering them all the way to documents that are entirely fake, Resistant.AI takes a stab at detecting them with AI technology. Not only people in the financial industry or big accounting departments commit such fraud. Also, customers applying for loans can tamper with their proof of income or other documents to get better conditions.

Now they are partnering with Instabase, the IDP SaaS vendor.

An October 20223 press release summarizes the collaboration: "Resistant AI, the AI- and machine learning-powered financial crime prevention specialists, today announced that it has partnered with unstructured data automation platform Instabase. The partnership offers financial services organizations Resistant AI’s Document Forensics to authenticate digital KYC documents submitted through Instabase’s AI Hub platform which processes vast amounts of unstructured data to automate end-to-end workflows.

Combatting online criminals requires progressively more powerful technology as fraudsters apply more sophisticated techniques, and the rise of artificial intelligence has only increased the number of tools in a criminal’s arsenal. In an analysis of over 25 million digital documents in the last six months, Resistant AI found that 8% of pay stubs, 10% of bank statements, and 7% of utility bills show signs of manipulation. This new partnership between leading AI SaaS providers, Resistant AI and Instabase, addresses the increasing demand for improved safety measures in fraud-prone document processing workflows, including identifying and preventing new money mule accounts being opened in relation to peer-to-peer (P2P) fraud, resulting in enhanced risk-management and customer experience."

Read the full press release here:

Share on   Facebook   Twitter   LinkedIn   Email   Whatsapp   Telegram
This post was published in
Artificial Intelligence