Financial institutions are championing the use of artificial intelligence , arguing the new technology can rapidly accelerate tasks like “know-your-customer” checks, customer onboarding, and document processing.

Advancements like these can drive customer acquisition and boost employee productivity, all good for the bottom line. “AI has been a game-changer in how we provide international payment and financial services. In 2024, we processed more than $1 trillion in global transactions, all supported by AI,” says Tianyi Zhang, a general manager of risk management and cybersecurity at Singapore-based Ant International.

Yet while AI presents an opportunity for financial firms like Ant International, it also poses risks. Bad actors can exploit AI advancements to intensify the threat of sc

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