Apate sends AI agents undercover to get scammed so they can gather fraud intelligence

Key points

• Apate.ai, a startup founded in 2024 on research from Macquarie University in Sydney, deploys AI agents that pose as victims to engage scammers. The agents answer scam calls, respond to messages and emails, and join social media groups.
• The company says they have engaged scammers in 2.5 million conversations. They aim to extract bank accounts, crypto wallets, phone numbers and impersonated brands, which Apate passes to customers such as Commonwealth Bank of Australia and TPG Telecom to strengthen anti-fraud measures.
• The company recently raised $8.15 million in seed funding.