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Charm, an AI-driven security platform designed to protect financial institutions and their customers from scams, social engineering, and human-targeted fraud, has emerged from stealth mode with $8 million in seed funding to advance its mission.

AI-Powered Fraud Prevention for Banks

The funding round was led by Team8, a global venture creation firm that played a key role in building Charm alongside cyber intelligence expert Roy Zur and former Microsoft data scientist Avichai Ben.

Charm highlights the shift in fraud tactics—from traditional system-based attacks to sophisticated social engineering scams—where human vulnerabilities have become the primary target. To address this, Charm leverages artificial intelligence, data analytics, and psychological insights to:

Assess human vulnerability exposure
Analyze customer risk patterns
Deliver real-time, tailored fraud mitigation strategies

Driving Innovation in Scam Prevention

With the newly secured funding, Charm plans to expand its team, accelerate product development, and establish strategic partnerships to enhance its fraud prevention capabilities.

“Scammers are evolving at an unprecedented pace, using AI to deceive customers before traditional fraud detection systems can respond,” said Roy Zur, CEO of Charm. “Our mission is to break the ‘scam spell’ by leveraging AI-powered real-time interventions and psychological insights to protect users when they need it most.”

As financial fraud grows increasingly sophisticated, Charm’s AI-powered solutions could play a critical role in helping banks and financial institutions strengthen their security frameworks and protect customers from emerging threats.

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