Bill pay scams like phishing and fake phone calls have been targeting vulnerable consumers for years. Artificial intelligence and machine learning are enabling fraudsters to attack companies at scale, with new and sophisticated schemes that increase card disputes, interchange costs, and customer frustration.

Bill payment fraud facts:

• $3 billion in credit was issued to phony identities in 2023
• 19 percent of Americans have been a victim of identity theft
• 40 percent of identity theft victims had accounts opened in their name

Join this session to learn more about how positive trends in digital payments adoption are opening the door to an alarming rise in identify theft, chargebacks, and payment acceptance costs. Our experts will share the latest results from the ACI Speedpay Pulse consumer research study, as well as innovative ways you can use AI and incremental machine learning to fight back against fraudsters.