The discovery of an audio fraud scheme has rocked the technology world to its core. Presently, the scheme, now known as the “FM Scam,” is the second major fraud to target audio spending. The finding and subsequent fixing of this racket was carried out through the seemingly unbeatable partnership of AI and humans.
At its peak in March 2024, the impact of the FM Scam affected over $1 million worth spending monthly, making a significant dent in the audio spending business.
What happened?
On May 7, 2024, DoubleVerify (“DV”) identified and mitigated the fraudulent practice now known as the FM Scam.
Overall, at its core, malefactors of the FM Scam falsified audio traffic data using dedicated servers. They imitated a plethora of devices that are typically used for audio playback. This helped perpetrators of the FM Scam to blend their falsified traffic along with legitimate data to remain undetected by anti-fraud entities. When running at its peak, the scam mimicked as many as 500K devices.
How was AI used to mitigate the FM Scam?
Firstly, during the fraudulent practice’s emergence, DV’s anti-fraud division, known as the “Fraud Lab,” saw certain similarities with a CTV scheme that was first found in 2019. Subsequently, one of the major revealing factors that led to the mitigation of the scam were the IP addresses, which matched the 2019 scheme.
Consequently, the DV Fraud Lab stopped FM Scam’s attacks right away and has been using a special blend of human review and AI-powered technology to stop future iterations of this scam from happening.
Further, according to DV, the scam can generate up to 100 million ad requests on a monthly basis, showing the sheer size, scale and potential to harm of the FM scam.
Who are DoubleVerify and what do they do?
DV is a leading platform for digital media data, analytics and measurement. Founded in 2008, the software company recently reported a quarterly net income of $7.2 million.
Moreover, the company is driven by a mission to make the digital advertising ecosystem stronger, safer and more secure. DV’s discovery and alleviation of the scam stays true to their company’s ethos and vision.
The future of AI and Human collaboration
In the world of tech, AI and humans teaming up is a game-changer. Certainly, just like how DoubleVerify’s Fraud Lab busted the FM Scam, this combo packs a punch.
Going forward, it’s imperative that AI and humans are trained to coordinate to mitigate dangers posed by fraudsters. Surely it’s safe to say that the world is becoming increasingly more complicated through advancements in technology. Therefore, successful collaboration between humans and AI must act as the frontline in the battle against fraud.
The future of AI seems cloudy at the moment. However, with more ethical collaboration between humans and AI, the world is likely to benefit.
