In 2024, American customers misplaced a report US$12.5 billion to fraud, a 25 % enhance over the earlier 12 months, in accordance with the most recent information from the Federal Commerce Fee (FTC). This surge occurred although the variety of fraud complaints remained roughly the identical at 2.6 million. What’s modified is the share of these complaints that resulted in monetary losses — rising from 27 % in 2023 to 38 % in 2024.
In different phrases, scams and misleading service contracts have gotten extra damaging, typically focusing on weak teams, immigrants, seniors, and low-income households.
In opposition to this backdrop, authorized tech entrepreneur Filip Ferents goals to fill the hole between rising client danger and restricted entry to reasonably priced authorized safety.
From Courtrooms to Code — Ferents’ Highway to AI Legaltech
Filip Ferents has a sturdy authorized background. He holds a grasp’s diploma and intensive expertise in civil, industrial, and labor legislation. Earlier than shifting to the U.S., he dealt with over 100 instances in Ukraine, defending customers, advising companies, and drafting a whole bunch of contracts.
Seeing the identical sample repeatedly, shoppers signing complicated or unfair contracts they barely understood, he realized that handbook authorized help can’t match the size of contemporary client dangers.
His reply: Shopper Defend AI LLC, a platform utilizing synthetic intelligence to research contracts, detect hidden dangers, and assist customers craft truthful agreements earlier than they commit.
As Ferents explains, “People sign millions of contracts daily. AI can perform first-level legal review in real time. Human lawyers then intervene only when disputes require deeper judgment.”
What Shopper Defend AI Does Otherwise
- Automated Contract Evaluation: The platform scans service or digital items contracts for suspicious clauses.
- Threat Flagging & Protected Templates: It flags unfair or hidden phrases and may generate safer contract variations.
- Person-Pleasant Interface: Designed with accessibility in thoughts for immigrants, seniors, and customers unfamiliar with authorized jargon (together with voice-mode).
- Pre-emptive Safety: Focus is on prevention, not litigation, catching issues early, earlier than cash is misplaced or providers go dangerous.
This method aligns intently with the evolving nature of fraud and client hurt. With $5.7 billion misplaced to funding scams and almost $3 billion to imposter scams alone in 2024, in accordance with FTC information, the necessity for systemic safety might hardly be extra pressing.
Recognition, Analysis & Imaginative and prescient for the Future
In 2024, Ferents was honored with the distinguished American Nationwide High quality Mark Award for its work in contract legislation, client safety, and constructing a sturdy AI-legal platform. His agency additionally obtained a separate accolade from the Instances & Faces Professional neighborhood, noting its innovation, social influence, and transparency in authorized providers.
He’s additionally energetic academically, publishing research on AI-driven contract evaluation; collaborating within the international neighborhood of innovators through The Ventures Membership; serving on the jury of Astraglobal Applied sciences; and contributing to the editorial board of a scientific journal.
For Ferents, this recognition isn’t simply private; it validates the broader concept: digital authorized safety have to be accessible, automated, and reasonably priced.
He sees the subsequent wave of growth in three areas:
- standardized digital contracts;
- automated “AI-to-AI” negotiations;
- preventive authorized instruments constructed into on a regular basis providers.
In a world the place digital providers and home-service contracts proliferate — typically laden with hidden traps — his mission is evident: defend customers earlier than hurt happens.
If 2024’s surge in fraud exhibits one factor, it’s that particular person vigilance isn’t sufficient. It’s time for scalable, technology-driven authorized safety.
