When the Fraudsters Have AI Too — Inside the New Fraud Reality with Tyler Allen

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/ 

🌐Listen to all One Vision Podcast episodes by visiting: https://shows.acast.com/one-vision 

One Vision Podcast is a fintech, banking, and AI podcast hosted by Theodora Lau (Founder, Unconventional Ventures; author of Banking on (Artificial) Intelligence). One Vision goes beyond the headlines on AI, agentic commerce, digital banking, financial inclusion, and the future of money — with founders, analysts, venture capitalists, technologists, and operators building the next chapter of financial services. New episodes weekly. Featured guests include leaders from Ant, bunq, J.D. Power, Forrester, IBM, Microsoft, Salesforce, SAS, SAP, and Wall Street Journal. Recognized in American Banker's Top 20 Most Influential Women in Fintech.

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