The contemporary banking system operates in a dynamic and interconnected global landscape. While this presents vast opportunities, it also introduces novel challenges to financial security. According to a report by Deloitte’s Center for Financial Services, generative AI could drive fraud losses in the United States to an estimated $40 billion by 2027, up from $12.3 billion in 2023. This represents a compound annual growth rate of 32%.

https://www.finextra.com/blogposting/26318/beyond-borders-beyond-fraud-securing-the-future-of-finance