US Treasury Taps Machine Learning AI To Recover $4 Billion In Fraud

Treasury Secretary Janet Yellen classified AI as an "emerging vulnerability" to the stability and security of the financial system. (Credit: Brandon Bell/Getty Images)

The U.S. Treasury Department recovered over $4 billion in fraud and prevented improper payments in the fiscal 2024, thanks to the use of advanced machine learning AI.

This year's recovery of more than $4 billion is a threefold increase over the $652.7 million reported in fiscal 2023, driven by efforts from the Treasury's Office of Payment Integrity (OPI) within the Bureau of the Fiscal Service to strengthen its fraud prevention capabilities.