Fraud Management & Cybercrime , Fraud Risk Management , Social Engineering

Countering Online Fraud With Gen AI Safeguards CEO Alex Zeltcer Says Attackers Use Deceptive Tactics to Engage in Fraud
Alex Zeltcer, CEO and co-founder,

Online fraudsters have ditched their old playbook. In the past, they focused on targeted attacks from single IPs, specifically aiming at the elderly and online shoppers. Today, fraudsters are armed with generative AI and machines, bombarding Gen Z with large-scale attacks using a range of devices and IPs. But companies such as are harnessing the power of generative AI to fight back.

See Also: Live Webinar | Digital Doppelgängers: The Dual Faces of Deepfake Technology

"We discovered that we can use AI to create vast amounts of synthetic data that would simulate attacks. Earlier, it was not possible because we simulated attacks using standard tools and rules," said Alex Zeltcer, CEO and co-founder at "Once you start using generative AI and train it on attack patterns that you see on different sites, you allow it to extrapolate from that and create attacks on its own.”

In this video interview with Information Security Media Group, Zeltcer also discussed:

  • The challenges posed by social engineering attacks at scale;
  • Fraud prevention decline rates;
  • AI use cases to tackle online fraud;

With a broad background spanning more than two decades in IT, R&D, sales and as an active angel investor, Zeltcer has been at the forefront of digital technology innovation. Prior to, he helped foster growth in various domains, including digital gift cards, online grocery shopping and 3D collaborative technologies.

About the Author

Brian Pereira

Brian Pereira

Sr. Director - Editorial, ISMG

Pereira has nearly three decades of journalism experience. He is the former editor of CHIP, InformationWeek and CISO MAG. He has also written for The Times of India and The Indian Express.

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