Fintech Ramp Launches Fraud Fighting, Bill Payment AI Agents

Spend management platform Ramp Inc. is enlisting artificial intelligence agents to help eliminate a growing problem for corporate customers: invoice fraud.

Invoice fraud has been spreading with the help of readily available generative AI tools that make fabricating documents easier. It’s a simple and effective scheme: bad actors generate a false invoice designed to look like it’s from a legitimate vendor and send it to a business. If the victim takes the bait, they end up depositing money directly into the fraudster’s bank account.

“It will be a continuous arms race,” Karim Atiyeh, co-founder and chief technology officer of ...