AI startup uses undercover agents to gather fraud intelligence

Apate.ai, an Australian startup founded in 2024 by Dali Kaafar, employs AI agents to engage scammers and gather intelligence on fraud schemes. These agents, which mimic various individuals, have spent 17 years interacting with scammers across 2.5 million conversations. The company provides this data to clients like Commonwealth Bank of Australia and TPG Telecom, helping them improve anti-fraud measures. Apate’s co-founder Brad Joffe explained that their AI agents engage with scammers directly, extracting valuable information before any harm occurs. The startup, a finalist at this year’s Startup Battlefield 200 at TechCrunch Disrupt, raised $8.15 million in seed funding and plans to expand internationally. Joffe noted that scammers often express frustration by swearing at the bots, a behavior Apate celebrates as a sign of their effectiveness. The company’s name, derived from the Greek goddess of deception, reflects its mission to outmaneuver fraudsters.