Employee expense fraud on the rise as teams overwhelmed with end-of-year tasks

Employee expense fraud on the rise as teams overwhelmed with end-of-year tasks Seb Vanhecke, chief product officer of European fintech Rydoo said the combination of higher workloads and the availability of AI-generated deepfake receipts is making it easier for fraudulent claims to go unnoticed. Employee expense fraud has increased as finance teams are overwhelmed with end-of-year tasks, according to Seb Vanhecke, chief product officer of European fintech Rydoo. Vanhecke said the combination of higher workloads and the availability of AI-generated deepfake receipts is making it easier for fraudulent claims to go unnoticed. He explained that traditional batch processing methods are no longer effective against increasingly sophisticated fraud attempts and argued that businesses need to adopt AI-powered solutions that allow for real-time expense monitoring and the detection of deepfakes. Read full article here.