Ways Modern Technology Is Fighting Fraud

Everything in this world is fast-paced. What seemed relevant 10 years ago might no longer have the same importance today. Think of the high number of fast-food chains; those are an indication that people want food and many other things as fast as possible. This is all thanks to technology.

But on the other side of the coin, modern technology has done more than just provide convenience and accessibility to everyone. Modern technology has also helped in fighting crimes like fraud.

Suspicious Storylines

There is a feature in almost all email platforms that allows users to block scam emails from reaching their inbox. A user has the option of flagging certain keywords so the offending mail never get to them in the first place. But perpetrators are able to circumvent this by personalizing notes after gleaning information from the Internet.

Because of this, a company called ZapFraud has slowly turned to natural-language analytics to help people avoid falling for any fraud schemes. Their analytics works by looking for narrative patterns that are suggestive of fraud. Their software looks for emails that contain, for example, a statement of surprise, a mention of an amount of money, and a call to action. These are basically the elements that make up a fraud email.

If this kind of technology is implemented, it can do more than just email filtering but can also be helpful in flagging text messages, interactions made in social media platforms, and even messages on dating sites!

Truth Filters

Another approach that could help everyone combat fraud is flagging statements that are untrue across all social media. This is something that could happen pretty soon. A computer scientist named Kalina Bontcheva has been researching natural-language processing, which examines social data to determine what are rumors and estimate their accuracy by cross-referencing information from other trusted sources, analyzing the semantics involved, and identifying the point of origin. Bontcheva has also taken part in researching flagging misleading social media posts and tweets.

In-The-Moment Warnings

Imagine this: you are walking in a quiet street when an elderly person suddenly approaches you out of nowhere and asks you for bus fare as he lost his wallet and he needs to get home. While you are conversing with the man, your phone alerts you with a notification that says, “Be wary. He’s a fraud.”

This might seem far-fetched, but phone companies can gather information coming from the users in its networks and develop voice biometrics to identify signs that may demonstrate deceit. This means that it will be easier for phone companies to identify voices of people who are trying to implement fraud schemes. The phone company can then give you alerts about it.

While modern technology has helped in fighting fraud, working with an experienced attorney like this one here can provide legal assistance to you. An attorney who successfully handled fraud cases in the past can do wonders for you if you are now involved in a fraud case, regardless of whether you’re the victim or the accused.

Be Aware and You Will Be in Control

Fraud perpetrators are people who take drastic measures so they can benefit from their own schemes. They are now able to make crimes without victims knowing that they are even “victims.”

Fortunately, modern technology has decreased the risks of that happening. Technology innovations is making our lives easier, and safer as well. You just have to make sure that you do not solely depend everything on technology for your safety. You should also pay attention to all the transactions that you initiate to avoid being a victim of any type of fraud.