NEW YORK, March 11, 2025 (GLOBE NEWSWIRE) — Feedzai, the global leader in AI-native fraud prevention solutions, today announced the launch of ScamAlert, an innovative GenAI-powered fraud prevention agent built from a deep understanding of tactics fraudsters use to exploit consumers. ScamAlert transforms customers into active defenders against increasingly sophisticated scams. This is particularly crucial because, in many scams, customers validate fraudulent transactions—effectively handing scammers the green light to continue their schemes. ScamAlert disrupts this cycle by empowering users with real-time alerts and actionable advice, helping them identify and avoid scams before unwittingly validating a transaction. In doing so, it not only protects consumers from financial loss but also strengthens the overall fraud defense by breaking the scam cycle at its source.
Scams have become a global epidemic, costing consumers over $1 trillion annually. Fraudsters increasingly leverage GenAI to scale their attacks, making them more sophisticated and complex to detect. In response, Feedzai is harnessing the power of GenAI to strengthen fraud prevention and provide banks with a critical new AI agent to protect their customers.
Feedzai debuted ScamAlert at the HumanX conference, where the brightest minds in AI, business, and technology come together to discuss AI innovations, governance, and opportunities. Conference attendees have the opportunity to engage in a dynamic, interactive game, testing their scam detection skills head-to-head against ScamAlert.
“Scammers are evolving fast, using AI to trick even the most cautious consumers. With ScamAlert, we’re giving people a powerful AI assistant that warns them in real time—because the best fraud prevention starts before money leaves your account,” said Nuno Sebastiao, CEO and Co-Founder of Feedzai. “But banks and tech companies can’t solve this problem alone—their customers are also active participants in scam prevention. With ScamAlert, we’re deploying a two-pronged approach: our AI agent provides real-time feedback to customers that helps them identify scams, and it also serves as a powerful tool for customer education. The interactive nature of ScamAlert reinforces the scam prevention message, ensuring that every customer becomes an active line of defense. We all know that prevention measures are only as strong as our weakest link, and in the world of scams, that link is often the customer.”
How ScamAlert Works
Banks can integrate ScamAlert into their operations in multiple ways, ranging from self-service check at payment, in which customers verify the authenticity of advertisements, invoices, or email communications before proceeding with payments, to risk engine integration, where detailed assessments from ScamAlert enrich the bank’s overall risk strategy and transaction scoring. By leveraging the global insights of key scam indicators from the Feedzai network, the ScamAlert agent provides timely consumer warnings. This approach not only empowers users with rapid, accurate risk assessments but also feeds critical intelligence into banks’ fraud prevention systems, ensuring proactive defense measures are always one step ahead.
A Consumer’s View of ScamAlert
ScamAlert allows customers to easily upload screenshots of potential scams —from text messages and emails to marketplace listings, advertisements, or website URLs—via their mobile banking app or desktop. Unlike traditional fraud detection, ScamALert uses a multimodal model, analyzing text, images, and transaction data in real time to detect scams before they happen. In addition to delivering fast, accurate risk assessments, ScamAlert offers actionable advice, helping users avoid falling victim to scams. The solution enhances banks’ defense strategies by integrating ScamAlert’s findings directly into their risk systems. This better equips banks to identify scam-related threats and enriches overall transaction risk scoring, providing critical context to prevent fraud before payments are processed.
By delivering rapid, accurate assessments, ScamAlert empowers consumers while enhancing banks’ risk management. Its findings seamlessly integrate into a bank’s risk strategy, enriching transaction scoring with real-time insights into potential fraudulent activities before a payment is made.
About Feedzai
Feedzai is the world’s first end-to-end financial crime prevention platform, protecting people and payments with AI-native solutions that stop fraud and financial crime. Leading financial institutions trust Feedzai to manage critical risk and compliance processes, safeguarding trillions of dollars of transactions while improving the customer experience and protecting the privacy of everyday users. For more information, users can visit feedzai.com.
Contact
Austin Hyslip
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7962ecc6-8d87-42ea-9600-52c0b8296224
