The Fintech Times

MAY 12, 2024

Emerging technology such as AI has enabled threat actors to take a sophisticated approach to fraud, with global full-cycle identity verification platform, Sumsub , revealing a 10x increase in the number of deepfakes detected worldwide from 2022 to 2023. The highest proportion of participants (41.4

Financial Crimes 67

Financial Crimes Crime Money Laundering Deepfake 67

The Fintech Times

SEPTEMBER 11, 2024

AU10TIX, a company specialising in identity verification and management, also reveals significant vulnerabilities in the Asia-Pacific (APAC) region, where financial-related identity fraud has been escalating. Bots and deepfakes The rise of bots using deepfake technology to create convincing fake profiles poses an additional challenge.

Bots 57

Bots Deepfake Automation APACS 57

The Fintech Times

MAY 16, 2024

Banks are coming under an increasingly intense barrage of cybersecurity attacks, and many of these now use deepfakes and generative AI to make the initial breach. This means that synthetic identity fraud is now the fastest-growing category of financial crime in the US – and costing banks as much as $6billion.

Deepfake 67

Deepfake Security Cybersecurity Procedures 67

The Fintech Times

AUGUST 13, 2024

As of April 2023, there were 1,000 active fintechs in Latin America (LatAm) with a vast majority focusing on financial inclusion, tackling the issue of 70 per cent of the population not having access to formal financial services. This leaves many vulnerable to sophisticated AI-powered attacks like deepfakes and voice cloning.

AI 57

AI Fraud Detection Fraud Prevention Deepfake 57