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Hedge fund boss sits on board of NGO alongside former Chinese government officials
Share Tweet Share Share Email Financial crime is a growing concern in today’s digital world. From identity theft to money laundering, fraudsters are constantly devising new ways to exploit vulnerabilities in financial systems. With billions of dollars lost every year to fraud, organizations are now turning to advanced technology to strengthen their defenses. One of the most effective tools in this fight is Artificial Intelligence (AI). In this article, we’ll explore how AI is transforming fraud prevention, its benefits, and why it’s essential for financial systems to adopt these cutting-edge solutions. Understanding Financial Crime and Its Impact Financial crime encompasses a wide range of illegal activities, including: Identity Theft: Stealing personal information to access someone’s finances. Money Laundering: Concealing the origins of illegally obtained money. Credit Card Fraud: Using stolen card details to make unauthorized transactions. Insurance Fraud: Filing false claims to get payouts. The rise in digital transactions has provided convenience but also opened doors for fraudsters. Cybercriminals use sophisticated methods, like phishing, malware, and social engineering, to target individuals and businesses. The result? Billions lost globally, alongside shattered trust in financial institutions. This is where AI steps in as a game-changer. How AI Works in Fraud Prevention AI is like the brain behind a robust fraud detection system. It uses complex algorithms to analyze vast amounts of data and spot irregularities faster and more accurately than humans ever could. Here’s how it works: Real-Time Monitoring: AI can process thousands of transactions per second, identifying unusual activity as it happens. Pattern Recognition: By learning from past data, AI can recognize patterns that suggest fraudulent behavior. For instance, if a credit card is suddenly used in another country, it can flag the transaction as suspicious. Behavioral Analysis: AI analyzes user behavior, such as login locations and spending habits, to detect deviations that might indicate fraud. Adaptive Learning: Unlike traditional systems, AI gets smarter over time. It continuously updates its models to counter new fraud tactics. Real-Life Examples of AI in Action AI-driven fraud prevention is already making waves across industries: Banking: Banks like JPMorgan Chase and HSBC use AI to monitor millions of transactions daily, preventing fraud before it happens. E-Commerce: Online retailers leverage AI to detect fake reviews, identify fraudulent accounts, and secure payment systems. Insurance: AI tools analyze claims to detect inconsistencies or patterns of fraudulent activity. Cryptocurrency: AI helps track and prevent illegal transactions in the volatile crypto market. By catching fraudulent activity early, these systems not only save money but also protect reputations and customer trust. Benefits of AI in Fraud Prevention Speed and Efficiency: AI works 24/7, processing large datasets instantly. This ensures that threats are detected and mitigated quickly. Accuracy: With fewer false positives, AI minimizes disruptions for genuine users while catching real fraudsters. Scalability: Whether you’re a small business or a multinational corporation, AI adapts to handle fraud detection at any scale. Cost Savings: Preventing fraud means avoiding financial losses and costly legal battles. Challenges in Implementing AI Systems While AI is incredibly powerful, implementing these systems comes with challenges: Data Privacy: Handling sensitive user data requires strict compliance with privacy regulations. High Initial Costs: Setting up AI systems can be expensive, especially for small businesses. Complexity: Training AI models and integrating them into existing systems requires expertise. Despite these challenges, the long-term benefits far outweigh the costs. The Future of Fraud Prevention with AI As technology advances, AI’s role in combating financial crime will only grow. Here are some trends to watch: AI and Blockchain: Combining AI with blockchain technology can enhance transparency and make fraud even harder to commit. Biometric Authentication: AI-driven systems using fingerprints, facial recognition, or voice analysis will become standard for secure transactions. Collaborative AI Networks : Organizations may share anonymized data to improve fraud detection across industries. AI isn’t just a tool it’s a necessity for staying ahead of increasingly sophisticated cybercriminals. Why Youths Should Care About AI in Fraud Prevention Young people are the most active users of digital platforms, from online banking to e-commerce. Understanding AI’s role in fraud prevention empowers you to: Protect Yourself: Be aware of how fraud happens and the technologies fighting it. Explore Career Opportunities: Fraud prevention is a growing field with demand for tech-savvy professionals. Be Part of the Solution: Youths can contribute by advocating for ethical AI use and supporting secure digital ecosystems. Conclusion Fraud prevention is no longer just about human vigilance; it’s about leveraging cutting-edge technology to outsmart fraudsters. AI has revolutionized how financial crimes are detected and prevented, making the digital world safer for everyone. As fraudsters evolve, so must we. By adopting AI-driven systems, organizations can protect their assets, customers, and reputations. For youths, this is a chance to understand, engage, and even lead the charge in building a fraud-free future. Let’s embrace AI, not just as a tool but as an ally in the fight against financial crime. Related Items: Blockchain Technology , Financial Crime , Fraud Prevention Systems Share Tweet Share Share Email Recommended for you Mizzle Partners with InFlux Technologies to Power DePIN Platform with Decentralized Cloud Infrastructure and Advanced Computing Resources WealthTech: Transforming Wealth Management with Advanced Technology U.S. Government Is Preparing to Meet Key Crypto Figure, Reports Suggest CommentsStephanie Armour, Julie Rovner | (TNS) KFF Health News Many of President-elect Donald Trump’s candidates for federal health agencies have promoted policies and goals that put them at odds with one another or with Trump’s choice to run the Department of Health and Human Services, Robert F. Kennedy Jr., setting the stage for internal friction over public health initiatives. Related Articles National Politics | Elon Musk’s preschool is the next step in his anti-woke education dreams National Politics | Biden will decide on US Steel acquisition after influential panel fails to reach consensus National Politics | Biden vetoes once-bipartisan effort to add 66 federal judgeships, citing ‘hurried’ House action National Politics | A history of the Panama Canal — and why Trump can’t take it back on his own National Politics | President-elect Trump wants to again rename North America’s tallest peak The picks hold different views on matters such as limits on abortion, the safety of childhood vaccines, the COVID-19 response, and the use of weight-loss medications. The divide pits Trump picks who adhere to more traditional and orthodox science, such as the long-held, scientifically supported findings that vaccines are safe, against often unsubstantiated views advanced by Kennedy and other selections who have claimed vaccines are linked with autism. The Trump transition team and the designated nominees mentioned in this article did not respond to requests for comment. It’s a potential “team of opponents” at the government’s health agencies, said Michael Cannon, director of health policy studies at the Cato Institute, a libertarian policy organization. Kennedy, he said, is known for rejecting opposing views when confronted with science. “The heads of the FDA and NIH will be spending all their time explaining to their boss what a confidence interval is,” Cannon said, referring to a statistical term used in medical studies. Those whose views prevail will have significant power in shaping policy, from who is appointed to sit on federal vaccine advisory committees to federal authorization for COVID vaccines to restrictions on abortion medications. If confirmed as HHS secretary, Kennedy is expected to set much of the agenda. “If President Trump’s nomination of RFK Jr. to be secretary is confirmed, if you don’t subscribe to his views, it will be very hard to rise in that department,” said Amesh Adalja, an infectious disease specialist and senior scholar at the Johns Hopkins Center for Health Security. “They will need to suppress their views to fit with RFK Jr’s. In this administration, and any administration, independent public disagreement isn’t welcome.” Kennedy is chair of Children’s Health Defense , an anti-vaccine nonprofit. He has vowed to curb the country’s appetite for ultra-processed food and its incidence of chronic disease. He helped select Trump’s choices to lead the Centers for Disease Control and Prevention, the Food and Drug Administration, and the National Institutes of Health. If confirmed, he would lead them from the helm of HHS, with its more than $1.7 trillion budget. Clashes are likely. Kennedy has supported access to abortion until a fetus is viable. That puts him at odds with Dave Weldon, the former Florida congressman whom Trump has chosen to run the CDC. Weldon, a physician, is an abortion opponent who wrote one of the major laws allowing health professionals to opt out of participating in the procedure. Weldon would head an agency that’s been in the crosshairs of conservatives since the COVID pandemic began. He has touted his “100% pro-life voting record” on his campaign website. (He unsuccessfully ran earlier this year for a seat in Florida’s House of Representatives.) Trump has said he would leave decisions about abortion to the states, but the CDC under Weldon could, for example, fund studies on abortion risks. The agency could require states to provide information about abortions performed within their borders to the federal government or risk the loss of federal funds. Weldon, like Kennedy, has questioned the safety of vaccines and has said he believes they can cause autism. That’s at odds with the views of Marty Makary, a Johns Hopkins surgeon whom Trump plans to nominate for FDA commissioner. The British American said on the “Brian Kilmeade Show” on Fox News Radio that vaccines “save lives,” although he added that it’s good to question the U.S. vaccine schedule for children. The American Academy of Pediatricians encourages parents and their children’s doctors to stick to the recommended schedule of childhood vaccines. “Nonstandard schedules that spread out vaccines or start when a child is older put entire communities at risk of serious illnesses, including infants and young children,” the group says in guidance for its members. Jay Bhattacharya, a doctor and economist who is Trump’s selection to lead NIH, has also supported vaccines. Kennedy has said on NPR that federal authorities under his leadership wouldn’t “take vaccines away from anybody.” But the FDA oversees approval of vaccines, and, under his leadership, the agency could put vaccine skeptics on advisory panels or could make changes to a program that largely protects vaccine makers from consumer injury lawsuits. “I do believe that autism does come from vaccines,” Kennedy said in 2023 on Fox News . Many scientific studies have discredited the claim that vaccines cause autism. Ashish Jha, a doctor who served as the White House COVID response coordinator from 2022 to 2023, noted that Bhattacharya and Makary have had long and distinguished careers in medicine and research and would bring decades of experience to these top jobs. But, he said, it “is going to be a lot more difficult than they think” to stand up for their views in the new administration. It’s hard “to do things that displease your boss, and if [Kennedy] gets confirmed, he will be their boss,” Jha said. “They have their work cut out for them if they’re going to stand up for their opinions on science. If they don’t, it will just demoralize the staff.” Most of Trump’s picks share the view that federal health agencies bungled the pandemic response, a stance that resonated with many of the president-elect’s voters and supporters — even though Trump led that response until Joe Biden took office in 2021. Kennedy said in a 2021 Louisiana House oversight meeting that the COVID vaccine was the “deadliest” ever made. He has cited no evidence to back the claim. Federal health officials say the vaccines have saved millions of lives around the globe and offer important protection against COVID. Protection lasts even though their effectiveness wanes over time. The vaccines’ effectiveness against infection stood at 52% after four weeks, according to a May study in The New England Journal of Medicine, and their effectiveness against hospitalization was about 67% after four weeks. The vaccines were produced through Operation Warp Speed, a public-private partnership Trump launched in his first term to fast-track the shots as well as other treatments. Makary criticized COVID vaccine guidance that called for giving young children the shots. He argued that, for many people, natural immunity from infections could substitute for the vaccine. Bhattacharya opposed measures used to curb the spread of COVID in 2020 and advised that everyone except the most vulnerable go about their lives as usual. The World Health Organization warned that such an approach would overwhelm hospitals. Mehmet Oz, Trump’s choice to head the Centers for Medicare & Medicaid Services, an agency within HHS, has said the vaccines were oversold. He promoted the use of the anti-malaria drug hydroxychloroquine as a treatment. The FDA in 2020 revoked emergency authorization of hydroxychloroquine for COVID, saying that it was unlikely to be effective against the virus and that the risk of dangerous side effects was too high. Janette Nesheiwat, meanwhile, a former Fox News contributor and Trump’s pick for surgeon general, has taken a different stance. The doctor described COVID vaccines as a gift from God in a Fox News opinion piece . Kennedy’s qualms about vaccines are likely to be a central issue early in the administration. He has said he wants federal health agencies to shift their focus from preparing for and combating infectious disease to addressing chronic disease. The shifting focus and questioning of vaccines concern some public health leaders amid the spread of the H5N1 bird flu virus among dairy cattle. There have been 60 human infections reported in the U.S. this year, all but two of them linked to exposure to cattle or poultry. “Early on, they’re going to have to have a discussion about vaccinating people and animals” against bird flu, said Georges C. Benjamin, executive director of the American Public Health Association. “We all bring opinions to the table. A department’s cohesive policy is driven by the secretary.” ©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.
The registration for the 16th edition of the Qatar International Falcons and Hunting Festival (Marmi 2025) came to a close Thursday. Under the patronage of HE Sheikh Joaan bin Hamad al-Thani, the festival will take place from January 1 to February 1, 2025, at Marmi area in Sealine. The final day of registration, which was held at Qatari Al Gannas Association headquarters in Katara – the Cultural Village, witnessed strong participation from falconers across Qatar and GCC countries. Marmi Festival chairman Muteb al-Qahtani said in a statement that the number of participants in each competition will be determined individually, followed by a draw, and results will be published and shared with participants. He said that the date for Young Falconer Championship would be announced later, but registration will take place on-site. Al-Qahtani added that generous prizes have been allocated for the festivals winners, supported by the Social & Sport Contribution Fund (Daam). The winner of Al Muzayen competition in "Al Hor Ashqar" category will receive QR700,000, the second-place winner will receive QR500,000, and third-place winner will receive QR300,000. For "Al Hor Adham and Black" category, the first-place winner will receive QR400,000, the second-place winner will receive QR300,000, and the third-place winner will receive QR200,000. In Haddad Al Tahaddi competition, the qualifier will win a cash prize of QR100,000, along with two Lexus cars for the final, and a QR100,000 prize for the winner of the final. The winner of Al Talaa competition will take home QR300,000, the second-place winner will receive QR200,000, and the third-place winner will earn QR100,000. In the local Al Daou competition across seven rounds, the first-place winner will receive QR200,000, the second-place winner will receive QR100,000, and the third-place winner will receive QR50,000. For the international Al Daou competition, the first-place winner will receive QR100,000, the second-place winner will get QR70,000, and the third-place winner will be awarded QR50,000. The winner of Elite Race will receive QR300,000, with the second-place winner taking QR200,000, and the third-place winner receiving QR100,000. In the Saluki racing competition, the first-place winner in each category will receive QR100,000, the second-place winner will take QR70,000, and the third-place winner will receive QR50,000. In the Young Falconer Championship, the first-place winner will be awarded QR25,000, the second-place winner will get QR20,000, the third-place winner will receive QAR15,000, the fourth-place winner will take home QR10,000, and the fifth-place winner will earn QR8,000. (QNA) Related Story Marmi 2025 registration continues at Katara with more GCC participation Qatar Sports for All Federation launches Muay Thai Winter Camp
Philadelphia (8-2) at Los Angeles Rams (5-5) Sunday, 8:20 p.m. EST, NBC/Peacock BetMGM NFL odds: Eagles by 3. Against the spread: Eagles 6-4; Rams 4-6. Series record: Eagles lead 23-20-1. Last meeting: Eagles beat Rams 23-14 in Inglewood, Calif. on Oct. 8, 2023. Last week: Eagles beat Washington 26-18; Rams beat New England 28-22. Eagles offense: overall (5), rush (1), pass (22), scoring (7). Eagles defense: overall (1), rush (7), pass (2), scoring (6). Rams offense: overall (17), rush (26), pass (T-7), scoring (21). Rams defense: overall (23), rush (18), pass (22), scoring (22). Turnover differential: Eagles plus-2; Rams plus-4. Eagles player to watch RB Saquon Barkley. Barkley combined for 198 scrimmage yards and two scores, rushing 26 times for 146 yards (5.6 average) while adding two receptions for 52 yards against Washington. With 1,137 rushing yards through 10 games, Barkley only trails Baltimore’s Derrick Henry for the NFL lead. He had his sixth 100-plus yard rushing game this season, which is the most in the NFL. Rams player to watch S Kam Kinchens. The rookie third-round pick from Miami had eight tackles, one tackle for loss, an interception and a forced fumble against the Patriots as he continues to come on strong. Kinchens has three picks in the past three games. Key matchup Eagles QB Jalen Hurts vs. Rams’ defensive line. Hurts shredded Los Angeles for 303 yards passing and 72 yards rushing last season despite the presence of superstar DT Aaron Donald. After Donald retired, the Rams turned to a committee approach to get after the passer, and it has worked with rookie OLB Jared Verse and DT Braden Fiske fitting in well next to second-year OLB Byron Young and DT Kobie Turner. But they can only unleash their excellent pass rush skills by limiting Philadelphia on early downs. Hurts has been at his dual-threat best over the past five games, accounting for 15 total touchdowns (six passing, nine rushing) against two turnovers. Key injuries Eagles defensive end Bryce Huff had surgery on his left wrist on Thursday, a move that could allow him to return toward the end of the season. ... WR DeVonta Smith (hamstring) was ruled out on Friday. ... Rams RT Rob Havenstein (ankle) got in two limited practices this week but is doubtful to play. Havenstein sat out the previous two games because of the ailment. Series notes The Eagles have won all three games in Los Angeles since the Rams moved back in 2016. ... Overall, Philadelphia has won seven of the past eight. The only setback came in Week 2 of the 2020 pandemic season. Stats and stuff Barkley has passed 100-plus scrimmage yards in eight of 10 games. That is tied with LeSean McCoy (2011) and Brian Westbrook (2007) for the most by an Eagle through 10 games. His 198 yards were his second most as an Eagle (199 in Week 9). ... The Eagles have allowed two passing touchdowns during their winning streak. Only one opponent has topped 200 passing yards against them in this stretch, with Cincinnati throwing for 222 in Week 8. ... Hurts leads all NFL quarterbacks with 11 touchdown runs and is second only to Henry's 13 scores for the Ravens. ... WR A.J. Brown leads the league in receptions of 30 yards or longer. He is averaging 18.7 yards per catch, the best mark of any player with at least 30 grabs. ... Even before he hurt his wrist, Huff struggled in his first season in Philadelphia with just 2 1/2 sacks and four quarterback hits. His snap count has dipped since he was injured ahead of a game earlier this month against Jacksonville. Huff had 17 1/2 sacks in four seasons with the Jets before he signed a three-year, $51 million free-agent deal with the Eagles. ... Philadelphia has run for at least 150 yards and two touchdowns in five straight games, something it hadn't accomplished since 1949. ... Rams WR Puka Nacua caught his first touchdown of the season in New England. He has at least seven receptions and 98 yards in three of his past four games, with only a second-quarter ejection in Seattle having limited Nacua since he returned from a knee injury. ... WR Cooper Kupp has 614 receptions through his first 98 games, which is fourth most in NFL history through 100 games. Julio Jones (619) is third. ... RB Kyren Williams averaged a season-high 5.7 yards per carry, finishing with 86 yards on 15 attempts versus the Patriots. ... Verse has 11 tackles for loss and 4 1/2 sacks through his first 10 games. Verse is pressuring the quarterback on 20.2% of pass rush snaps, which ranks second in the league overall. ... The Rams were 2 of 8 (25%) on third down against New England, their third straight game converting 25% or worse. ... QB Matthew Stafford has not been sacked in each of Los Angeles’ past three wins. Fantasy tip Don’t be discouraged using Stafford, Kupp and Nacua against Philadelphia's pass defense. All three put up solid fantasy numbers in last season’s meeting, even as the Eagles sat on the ball for nearly 38 minutes. Stafford had 222 yards and two scores, finding Kupp eight times for 118 yards and Nacua seven times for 71 yards and a touchdown, so they'll find ways to produce. ___ AP NFL: https://apnews.com/hub/NFL The Associated Press
Jets' Rodgers insists he'll play despite knee issue, rookie Fashanu placed on IR with foot injury