Ep086: Battling Fraud in the Age of Generative AI: Socure's Mission to Secure the Internet

CTO Arun Kumar discusses how Socure leverages AWS and generative AI to collect billions of data points each day in order to combat sophisticated online fraud at scale.

Topics Include:

• Introduction of Arun Kumar, CTO of Socure
• What does Socure specialize in?
• KYC and anti-money laundering checks
• Mission: eliminate 100% fraud on the internet
• Fraud has increased since COVID
• Socure blocks fraud at entry point
• Works with top banks and government agencies
• CTO responsibilities include product and engineering
• Focus on increasing efficiency through technology
• Two goals: internal efficiency and combating fraud
• Countering tools like FraudGPT on dark web
• Measuring success through reduced human capital needs
• Fraud investigations reduced from hours to minutes
• Improved success rates in uncovering fraud rings
• Detecting multi-hop connections in fraud networks
• Question: Who's winning - fraudsters or AI?
• It's a constant "cat and mouse game"
• Creating a fraud "red team" similar to cybersecurity
• Partnership details with AWS
• Amazon Bedrock provides multiple LLM options
• Building world's largest identity graph with Neptune
• Real-time suspicious activity detection
• Blocking account takeovers through phone number changes
• Success story: detecting deepfake across 3,000 IDs
• Collecting hundreds of data points per identity
• Challenges: adding selfie checks and liveness detection
• Future strategy: 10x-100x performance improvements
• Creating second and third-order intelligence signals
• Internal efficiency applications of generative AI
• AI-powered sales tools and legal document review

Participants:

• Arun Kumar – Chief Technical Officer, Socure

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