How can businesses defend themselves when artificial intelligence is making fraud faster, cheaper, and more sophisticated than ever before?

In this NYSE Live interview from Money20/20 USA, Colton Pond, Chief Marketing Officer at Socure, discusses the rise of AI-powered fraud, identity verification, digital trust, and how organizations are adapting to an increasingly complex cybersecurity landscape.

J.D. Durkin spoke with Pond about artificial intelligence, identity verification, fraud prevention, cybersecurity, financial services, digital trust, and emerging threats facing consumers and businesses.

A major theme throughout the conversation is the growing importance of trust in the digital economy. As online transactions and digital interactions accelerate, organizations increasingly need reliable ways to verify identities and establish trust between participants.

The interview also explores Socure's role as an AI-native identity verification and trust platform. The company helps organizations confirm identities, assess risk, and protect against fraud across financial services, technology, crypto, and other digital ecosystems.

Another key topic is the rapid rise of AI-powered fraud. Pond explains that advances in artificial intelligence have lowered the cost of conducting fraud while dramatically increasing the scale and sophistication of attacks.

The conversation further examines how fraud economics have changed. As AI tools become more accessible, threat actors can launch attacks at lower cost while targeting a larger number of individuals and organizations.

A significant focus of the discussion is the growing financial impact of digital fraud. Organizations across industries continue facing increasing pressure to protect customers, transactions, and sensitive information from evolving threats.

The interview also highlights the arms race between fraudsters and defenders. While malicious actors are leveraging AI to automate attacks, security and identity verification providers are using advanced AI models to improve detection and prevention capabilities.

Another major theme is first-party fraud, where individuals use their own identities while intentionally misrepresenting information or disputing legitimate transactions for financial gain.

The discussion also explores changing consumer behavior and the increasing prevalence of first-party fraud among certain demographics, creating new challenges for businesses and financial institutions.

Additionally, Pond discusses the importance of layered security approaches. Rather than relying on a single control, organizations increasingly deploy multiple forms of identity verification, behavioral analysis, risk scoring, and transaction monitoring.

The interview further examines Socure's use of AI models designed to evaluate identity risk factors, detect synthetic identities, monitor sanctions compliance, and identify potential fraud indicators.

Another key topic is the growing sophistication of identity-related threats. Fraudsters continue finding new ways to exploit digital channels, automated systems, and emerging technologies.

The conversation also highlights workforce fraud as an emerging concern. As remote work and digital hiring become more common, organizations face growing risks associated with applicants misrepresenting identities or credentials.

A significant focus is the role of artificial intelligence in both creating and mitigating cyber risk. As AI capabilities expand, organizations must continuously evolve their defenses to keep pace with increasingly sophisticated attacks.

Looking ahead, Pond expects identity verification, fraud prevention, workforce authentication, and digital trust technologies to become even more important as businesses navigate a rapidly changing threat landscape.

Throughout the discussion, Pond shares insights on artificial intelligence, cybersecurity, identity verification, fraud prevention, digital trust, financial crime, workforce security, authentication, risk management, and fintech innovation.

Disclaimer: Informational content only. NYSE does not endorse or recommend investments, strategies, companies, products, or services discussed.

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