Billion dollar check fraud stopped with the help of artificial intelligence

Science and Technology Desk: In the current financial year, the United States Department of Finance has been able to separate a large amount of information with the help of artificial intelligence. Through this, the country was able to recover the check of 100 million dollars.

Science and Technology Desk: In the current financial year, the United States Department of Finance has been able to separate a large amount of information with the help of artificial intelligence. Through this, the country was able to recover the check of 100 million dollars.

 

CNN reported that using machine learning artificial intelligence, it was possible to retrieve one-third of the money checks from the previous fiscal year. U.S. Treasury Department official Renata Miskel said it's a big change. The use of information has helped in detecting and stopping fraud.


In 2024, the Ministry of Finance was quite successful in stopping various types of fraud. During this time, they were able to stop the fraud cases and recover the money, which involved 4 billion dollars in total.

Since 2022, US officials have quietly started using artificial intelligence to detect financial crimes. Banks and credit card companies have been using artificial intelligence to do this for a long time.


Fraud in the financial sector has been on the rise in the United States since the Corona pandemic. The main purpose of these frauds was to steal taxpayers' money. At that time, the government provided various assistance to ordinary consumers and businesses on an emergency basis.


Renata Miskel said fraudsters are good at hiding information. They secretly use the system to cheat. Bringing this secret to the fore—artificial intelligence helps prevent fraud.

The US Department of Finance is one of the largest disbursers around the world. Every year they pay 7 billion dollars out of 10 million people. The number of such payments is about 140 crores. From social security and medical payments to central government employee salaries, tax refunds and incentives, this department provides funds.


Monirul Islam

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