HMRC awards Quantexa £175m, 10-year deal for AI fraud detection
HMRC has signed a £175m, 10-year partnership with UK AI firm Quantexa to unify fragmented tax data and target large-scale VAT and payroll fraud at national scale.
Tag: Fraud Detection
9 articles tagged Fraud Detection
Feedzai launches RiskFM, a foundation model built for financial crime prevention
The fintech firm has released what it calls the first tabular foundation model designed specifically for financial risk, with Lloyds Banking Group among its early collaborators.
Bank of Ireland plans AI training for all staff in 2026
Bank of Ireland is rolling out AI-immersion learning across its entire workforce after early programmes showed strong uptake and measurable fraud prevention gains.
How AI Agents Are Reshaping Everyday Banking Operations
AI agents are moving beyond traditional automation in banking, bringing adaptive decision-making to payments, fraud detection, compliance, and corporate treasury operations.
Generative AI Becomes Frontline Defence in Banking Fraud Detection
Banks deploy deep generative models to combat AI-powered fraud, reporting up to 90% reduction in false positives as fraud losses continue rising.
Machine learning saves £4.4M in UK.gov work and pensions fraud detection
UK's Department for Work and Pensions saved £4.4M using machine learning for fraud detection, though fragmented IT systems limit scaling efforts.