On November 6, 2024, Y Combinator announced the launch of an AI-driven fraud detection model by Rulebase on its LinkedIn page. This model is designed to integrate with IVR and CCaaS systems to prevent account takeovers, vendor fraud, and voice phishing. According to Rulebase, the model uses AI to analyze voice biometrics and call behavior, effectively blocking account takeovers, impersonations, and voice clones. With the increasing prevalence of AI-enabled voice scams, it has become challenging to distinguish between a legitimate caller and a fraudster. This is the problem that Rulebase aims to solve. The company conducts voice phishing simulations to train employees against bad actors. A McAfee survey conducted last year revealed that 70% of people lack confidence in their ability to differentiate between a real and cloned voice. In a recent press release, YC stated that Rulebase creates voice agents that simulate phishing attacks on employees, helping them strengthen their defenses and identify vulnerabilities. This positions the startup as a valuable player in the fight against deepfakes. Rulebase was founded by Gideon Ebose and Chidi Williams, who bring their expertise from building defensive systems at Goldman Sachs, Microsoft, and other startups. Their goal is to tailor Rulebase’s mission to the specific needs of each business. As reported by AIM last year, deepfakes are fake voices, images, or videos created using AI to swap one person’s identity with another’s. These are made with advanced machine learning tools like autoencoders or GANs, making it easier to create realistic-looking content that can deceive people. According to Y Combinator’s blog, voice phishing and deepfake voices increased by 700% in 2023 and have continued to rise in 2024. These fraudulent calls can increase average handling time (AHT), putting extra pressure on service teams and reducing support for genuine customers. Additionally, voice phishing can cost up to $14 million per incident, draining resources and impacting the bottom line. YC-backed Rulebase is at the forefront of developing an AI-driven voice fraud detection system to combat these threats.
