When the Fraudsters Have AI Too — Inside the New Fraud Reality with Tyler Allen
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About this episode
Since 2023, illicit financial activity has surged by $1.3 trillion, reaching an estimated $4.4 trillion globally. The reason isn't a mystery: bad actors have AI now too.
In this episode of One Vision Podcast, Theodora Lau sits down with Tyler Allen, CEO of Unit21, to unpack what's happening on the front lines of AI-powered fraud. Tyler was Unit21's founding software engineer and he is now leading the company through a moment he calls "have your cake and eat it too": AI is finally cheaper than the human labor it could replace, and unlike humans, it doesn't get alert fatigue.
The conversation goes deeper on:
• The fundamental asymmetry between attackers and defenders — and why AI made it worse
• Why majority of AI pilots fail (hint: it's almost never the technology)
• Why AI makes sense for financial crime prevention and detection
• What he asks potential buyers, from ownership and goals, to risk tolerance and more
• What every FI should be demanding from their AI vendors
A conversation about the new physics of fraud — and the human consequences of getting it wrong.
🎧 Listen now wherever you get your podcasts.
📍Hot take: ”It's a have your cake and eat it too moment … it feels good to be in a space where you do have societal impact.”
Keywords: AI, AI Agents, Fintech, Fraud, Risk Management
Timestamps
00:00 Welcome and Intro
00:26 Robots to AI Fraud
01:31 AI Fuels Crime Surge
05:19 Alert Fatigue and Checks
07:26 Who Adopts AI Fastest
09:30 First Questions for Buyers
16:18 Vendor Evaluation Checklist
22:25 Pilot to Production Lessons
27:26 Tyler’s Career Origin Story
31:36 Books, Podcasts, and Learning
More about our guest
🌐Tyler Allen on LinkedIn: https://www.linkedin.com/in/tylertallen/
More about our host and One Vision Podcast
🌐Theodora Lau on LinkedIn: https://www.linkedin.com/in/theodoralau/
🌐Banking on (Artificial) Intelligence (book): https://www.bankingonaibook.com/
🌐Unconventional Ventures (company): https://www.unconventionalventures.com/
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