AI-driven customer vulnerability fraud on the rise: MorganAsh

MorganAsh said it has seen increasing reports from firms in the credit sector of customers using AI-generated claims of customer vulnerability to avoid or delay debt repayment. The firms reported that many of the reports are highly structured, templated and legally articulate correspondence – complete with references to the Financial Conduct Authority's (FCA's) legislation. The service provider said that it is difficult for firms to dismiss fraudulent cases enabled by AI without robust evidence from a prior vulnerability assessment. Andrew Gething, managing director, MorganAsh, sai...