CBA deploys AI bot army to study scam attacks

Thousands of voice and chat bots intercept scammers before they reach real customers.

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Commonwealth Bank of Australia (CBA) has found a way to protect its customers from scams whilst collecting data on fraud schemes—through artificial intelligence (AI)-powered bots.

In partnership with security platform Apate.ai Pty Ltd., the lender now operates 10,000 voice bots and 2,500 message bots designed to intercept scammers before they can reach real customers.

“For every minute that a scammer is on the line with a bot, or in a messaging conversation with a bot, they are not attacking an Australian,” James Roberts, CBA’s head of group fraud, told Asian Banking & Finance.

Each intercepted attempt not only prevents a scam but also feeds data into the bank’s anti-fraud systems, he said.

“One phone call might generate one piece of intelligence that then allows us to block 10 other scam attempts because of what scammers disclose to the customer on the line,” Roberts said. “It’s almost like a multiplier effect that eats at the very business model of the scammers.”

Protection on a wider scale