An Australian startup, Apate.ai, is deploying thousands of AI agents to go undercover and engage with scammers. Founded in 2024, the company's agents masquerade as potential victims, responding to scam calls, messages, emails, and following phishing links.
The purpose of these interactions is to keep scammers engaged for extended periods, aiming to gather intelligence such as bank accounts, crypto wallets, phone numbers, and details about the scams they are running. This information is then provided to Apate's customers, which include banks, telecom companies, government agencies, and utilities, to enhance their anti-fraud measures.
Apate.ai states that its fleet of agents has collectively wasted 17 years of scammers' time over 2.5 million conversations. The company's co-founder and chief commercial officer, Brad Joffe, said that Apate goes directly to the scammer to obtain information before potential victims are harmed.
The startup has raised $8.15 million in seed funding and plans for international expansion, including opening an office in London.