AI Agents Replace Grandmas to Fight Scammers

Australian company Apate uses AI agents to protect against fraudsters. Virtual "grandmothers" engage in dialogue with scammers to gather intelligence and help banks block the perpetrators.

How virtual grandmas work

The AI agent mimics a confused elderly person who trusts account security and doesn't understand where to click. This strategy allows prolonging the conversation until the scammer dictates bank details for a transfer.

Upon receiving an account number or crypto wallet address, the agent forwards this data to the bank. The financial institution can freeze the account, halt transfers for all clients linked to that scammer, and block phishing websites and phone numbers.

Project Scale

The initiative began when the company's founder kept a scammer on the line for 44 minutes during a family picnic. Now the project has reached global scale: virtual assistants have conducted over 2.5 million conversations, 'stealing' the equivalent of 17 years of life from scammers.