BioCatch Says Artificial Intelligence (AI) Upping Challenge Of Catching Fraudsters, Halting Scams
BioCatch Says Artificial Intelligence (AI) Upping Challenge Of Catching Fraudsters, Halting Scams
Publish Date: 2026-06-10 08:29:00
Source Domain: www.crowdfundinsider.com
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BioCatch’s Anti-Fraud Solution: BioCatch, an OurCrowd portfolio company and an anti-fraud AI firm, uses advanced AI technology to detect and prevent financial fraud by tracking thousands of data points.
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Wide Adoption and Scale: More than 30 of the world’s largest banks and 357 financial firms utilize BioCatch’s services, monitoring around 18 billion user sessions per month across 680 million accounts accessed from over 1.7 billion devices.
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Emerging Vulnerability: A BioCatch report titled “The Future of Digital Trust: AI Agents and the Speed of Fraud and Financial Crime” reveals that AI-fueled fraud is increasingly sophisticated, with 88% of surveyed risk and compliance managers acknowledging this trend.
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Rising Fraud Trends: The report highlights that while 73% of fraud leaders see an increase in fraud attempts and 64% report rising fraud losses, 84% of UK fraud leaders believe AI has boosted the sophistication of fraud and scams.
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Need for Advanced Solutions: The report suggests that real-time intelligence on receiving accounts could enhance recognition and stopping of scams, although 75% find it challenging to differentiate between legitimate and malicious AI-assisted activities.
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CEO’s Perspective: BioCatch CEO Gadi Mazor emphasizes that AI changes consumer interaction with financial services, enabling criminals to enhance their fraud efforts, thus necessitating moving beyond traditional identity checks.
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Financial Growth and Investment: BioCatch raised funds on OurCrowd and holds a valuation of $1.3 billion in 2024, generating around $185 million in revenue in 2025. Permira Growth Opportunities II is the majority shareholder.
