U.S. Treasury Leverages AI to Prevent Over $4 Billion in Fraud in 2024

On October 18th, the US Department of Treasury announced that their latest effort in preventing fraud and improper payments has recovered over $4 B which was lost in the year. 

The department shared that they took a technology and data-driven approach. The recovery of funds lost in fraudulent payments has increased by $652 million as compared to last year.

Furthermore to promote the access and usage of the department’s payment integrity solutions Treasury will be focusing on establishing partnerships with new and high-risk programs. This also included federally funded state-administered programs.