Japan To Step Up Fight Against Investment Fraud With AI
Japan‘s Consumer Affairs Agency announced on Tuesday its plan to intensify efforts against investment fraud, utilizing generative artificial intelligence (AI) technology to enhance information analysis and identify patterns common among past fraudulent schemes.
According to Jiji Press, a newly established group within the agency will employ this technology to scrutinize data from the National Consumer Affairs Center’s information system for consultation, which receives approximately 900,000 reports annually. The AI system aims to detect suspicious activities and predict business failures by identifying distinctive solicitation phrases and other characteristics extracted from past cases.
"Once damage occurs, it will be difficult to recover, so it is important to respond quickly," stated Consumer Affairs Minister Hitoshi Kikawada at a press conference.
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