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In 2022, US banks processed more than $448 billion in peer-to-peer (P2P) transactions, making them a prime target for scammers. Cybercriminals are increasingly leveraging the power of machine learning and generative AI to outwit fraud-detection systems, making fraud prevention a “battle of the machines”. Fraudsters use cloud services to build ML models capable of circumventing the defenses built by companies to spot obvious fraud. Even sophisticated ML models can be probed and attacked for weaknesses by malicious AI, making them risky to deploy in production settings.