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
BioCatch, an OurCrowd portfolio company, says that banks and Fintechs are challenged in dealing with AI fueled fraud and scams.
BioCatch is an anti-fraud AI firm that aims to halt financial crime by using thousands of data points to track behavior. The company reports that over 30 of the world’s largest banks and 357 financial firms use their services. As of Q1, BioCatch claims 18 billion user sessions per month, monitoring over 680 million accounts accessed from more than 1.7 billion devices
A report entitled The Future of Digital Trust: AI Agents and the Speed of Fraud and Financial Crime, published by BioCatch, that surveyed risk and compliance managers from 1440 firms, indicates that Agentic AI is the largest vulnerability, with 88% stating AI has already increased the sophistication of fraud.
Compared with the prior year’s report, AI-powered fraud is growing.
The report shares:
- 84% of UK fraud leaders say AI has boosted the sophistication of fraud and scams
- 75% say distinguishing legitimate AI-assisted banking activity from malicious will be very challenging
- 73% state that fraud attempts at their institution are increasing, and 64% say fraud losses are rising
- 76% report that real-time intelligence on receiving accounts could improve their ability to recognize and stop scams
BioCatch CEO Gadi Mazor states the obvious: AI is reshaping how consumers interact with financial services and make online purchases. Crooks are utilizing AI to improve their ability to fleece the unwitting:
“As digital interactions continue to grow faster, more automated, and increasingly driven by agents, we must move beyond static identity checks,” says Mazor.
BioCatch, which raised funds on OurCrowd, held a $1.3 billion valuation in 2024. In 2025, estimates indicated the company was generating around $185 million in revenue. Permira Growth Opportunities II is the majority shareholding, having bought out other early investors.
