SEON Report: AI Use Grows, But So Do Fraud Teams
A new report from fraud prevention firm SEON found near-universal adoption of AI among fraud and compliance leaders, but this has not led to smaller teams. The survey of over 1,000 professionals revealed that fraud teams are still growing alongside rising budgets. This suggests that while AI is a critical tool, human expertise remains essential for managing complex fraud and anti-money laundering (AML) challenges.
- According to the SEON report, 94% of fraud and compliance leaders plan to add at least one full-time hire in 2026, an increase from 88% in 2025. Additionally, 83% expect their budgets for fraud and AML to increase. - The growth in fraud teams is happening alongside a rise in the use of AI by criminals; 62% of businesses attribute the recent surge in payment fraud attacks to AI-driven techniques like deepfakes and advanced impersonation. This has led to global fraud losses amounting to $485.6 billion in 2023. - A major challenge for AI adoption is the integration of fragmented systems; while 95% of organizations claim some integration between their fraud and AML systems, only 47% have fully integrated workflows. This lack of a unified data view is a significant hurdle for 80% of fraud and compliance leaders. - AI is not seen as a replacement for human analysts but as a tool to augment their capabilities. AI excels at processing vast amounts of data in real-time to spot patterns, freeing up human experts to focus on more complex investigations, strategy, and ethical oversight. - Companies are struggling with the implementation of AI, with 38% of leaders reporting that it takes 1-3 months to go live with new systems, and 24% taking four months or more. These delays can lead to increased costs and prolonged exposure to fraud. - The increasing sophistication of schemes like synthetic identity fraud, where a combination of real and fake information is used to create new identities, is a major driver for the continued need for human-led fraud prevention teams. - Research shows that financial services professionals who frequently use AI are more successful in their careers, with 70% of those earning between $250,000 and $299,999 annually using AI daily. These high-frequency AI users also report lower stress levels and are more likely to interact with C-suite executives. - Looking ahead, 78% of fraud and AML leaders believe that decentralized digital identity will become a central component of their prevention strategies. Additionally, a third of leaders see data privacy regulations like GDPR and CCPA as the most significant external factor shaping their AML programs.
