A Nigerian national, FATADE OLAMILEKAN, was sentenced to five years in Federal Prison, for fraudulently obtaining millions of dollars in medical equipment and other merchandise. The defendant posed as US Government and state & local government purchasing agents. He used emails that were deceptively similar to those of authentic officials, and using a Lithuanian web hosting company to defraud suppliers, and shipped the goods stolen in this manner abroad.
He made small alterations to the email addresses of known government procurement officers, and opened many accounts in American banks, whose compliance officers failed to spot his operation. Neither the suppliers nor the bank compliance officers caught the tiny changes in the addresses, and the fraudster employed changes which rendered the addresses different, but which to the untrained eye appeared to be absolutely legitimate known addresses of purchasing agents known to the suppliers, using different alphabets and other tricks that totally fooled the recipients.
If the bank's compliance departments had employed platforms powered by advanced artificial intelligence, the extremely small discrepancies would most likely have been identified and rejected by the AI system. If there ever was a case that demonstrated the usefulness of artificial intelligence for busy and overloaded compliance officers, this is it.Activate to view larger im
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