Axis Bank witnesses high double-digit decline in frauds, backed by AI-led intelligence system

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Axis Bank says it has cut fraud incidents by a high double-digit percentage after replacing rule-based controls with AI-based intelligence systems. The bank reports a 40% reduction in fraud incidents across retail mobile banking, internet banking, and shopping-mall transactions in the last financial year. It also says digital fraud prevention rose sharply as the bank applied real-time customer controls, behavioral analysis, and network intelligence to spot suspicious activity earlier. The bank has identified mule-account hotspots in several states and has tightened monitoring and product-level controls in those areas.

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