Casap raises $33.5M to fight the fraud customers commit against their own banks

The AI dispute startup is betting that the biggest fraud threat to banks now comes from their own cardholders For decades, card fraud had a familiar villain: a stranger with your stolen numbers. That villain now has company, and it is often the cardholder. Casap, a startup that builds AI tools for handling card disputes and chargebacks, has raised $56 million, according to Fortune. The company’s pitch rests on one uncomfortable shift: cardholders themselves now account for nearly a third of fraudulent transactions. That is a different problem from classic identity theft. The customer is not the victim here. The customer is the one filing the false claim. The industry calls this first-party fraud.

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