Bank of England tests AI to spot real-time payment fraud

A project by the Bank of England and the London BIS Innovation Hub to use AI to spot unfolding and novel financial crime patterns in real-time retail payment systems showed promise but threw up a number of limitations to its efficacy.

​A project by the Bank of England and the London BIS Innovation Hub to use AI to spot unfolding and novel financial crime patterns in real-time retail payment systems showed promise but threw up a number of limitations to its efficacy.