Money 20/20 USA: Socure CMO Colton Pond on fighting AI-powered fraud with AI
Money20/20
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6m 18s
In 2023, launching an AI-based fraud attack cost about $50,000. Today, it costs about five cents. Colton Pond, Chief Marketing Officer at Socure, sits down with JD Durkin at Money 20/20 USA in Las Vegas to explain what that collapse in cost means for banks, crypto companies, AI platforms and the consumers they serve. Pond breaks down why fraud is run like a business, why first-party fraud, such as disputing a purchase you actually made, is up 50% this year, and why stopping today’s attacks takes multiple layers of defense instead of one. He shares how Socure’s AI-native trust infrastructure draws on a broad set of data signals feeding 30 AI models to spot stolen, synthetic and sanctioned identities. He also looks ahead to new threats like workforce fraud, where companies unknowingly hire people who aren’t who they say they are.
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