US Treasury Recovers $4 Billion with AI, Sixfold Increase from Previous Year
The U.S. Department of the Treasury recovered $4 billion in fraudulent payments in fiscal 2024, a significant increase from the previous year's $652.7 million, thanks to its use of artificial intelligence and machine learning. As online payment fraud is expected to exceed $362 billion by 2028, the Treasury and other agencies are intensifying their AI efforts to combat fraud and protect taxpayer money.
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