AI Agents Hunt Scammers Undercover

The Australian startup Apate.ai employs thousands of AI agents to counter fraud by engaging directly with scammers. These agents, developed from research at Macquarie University, pose as potential victims across various platforms, including calls, emails, and social media. Their primary goal is to waste scammers' time and extract valuable information like bank accounts and crypto wallet addresses, which are then shared with Apate.ai's clients. This strategy has already resulted in 17 years of wasted scammer time across 2.5 million conversations. The FBI reported over 22,000 AI-related crime complaints in 2025, with significant financial losses, highlighting the growing need for such anti-fraud technologies. Apate.ai's unique approach, inspired by the founder's personal experience with a scam call, focuses on proactively gathering intelligence rather than reacting after a scam occurs. Brad Joffe, co-founder, explained that their AI agents interact with tens of thousands of scammers daily, providing customers with actionable insights. The company utilizes both frontier and fine-tuned models for its agents and analysis. Customers receive access to an insights portal for intelligence on scams targeting their users, brands, or products. Notable clients like Commonwealth Bank of Australia and TPG Telecom have seen significant reductions in scam losses and call diversions. Apate.ai successfully raised $8.15 million in seed funding in August 2026, with plans to use the capital for product development and international expansion, including opening an office in London and increasing its U.S. presence. The company's name is inspired by the Greek goddess of deception.