Fintech News

APRIL 7, 2024

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. Economic Ramifications of Deepfake Scams The global impact of impersonation scams can be far-reaching, and expensive.

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Deepfake Scams Fraud Detection Verification 120

Fintech News

JUNE 6, 2024

In recent years, the banking sector in the Association of Southeast Asian Nations (ASEAN) has witnessed a significant surge in scams and fraud activities. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59 Losses exceeded S$13 million (US$9.59

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Scams Phishing Deepfake Verification 94

The Fintech Times

SEPTEMBER 11, 2024

Between 2022 and 2023, fraud in the region increased by 24 per cent, driven by large-scale attacks, including a targeted onboarding attack involving over 5,000 fraudulent attempts in Q2 2024. Bots and deepfakes The rise of bots using deepfake technology to create convincing fake profiles poses an additional challenge.

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Bots Deepfake Automation APACS 57

Fintech News

JANUARY 17, 2024

Sophisticated scams dominate the fraud landscape BioCatch’s report uncovers a startling surge in financial cybercrime in Asia-Pacific. With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year.

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Deepfake APACS Scams Authentication 112

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. As deepfakes proliferate, a trickle of lawsuits has the potential to become a flood – and one which absolutely could sink the banks. Michael Marcotte, CEO of artius.iD

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Deepfake Security Cybersecurity Procedures 67

Fintech News

JUNE 18, 2024

Another ethical concern outlined in the report is the potential of gen AI to produce convincing deepfake content, which can lead to misinformation. Furthermore, gen AI may be used for malicious purposes, and may amplify the scale, speed and sophistication of cyberattacks and scams.

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AI Use Case Risk Deepfake 111

Fintech News

DECEMBER 10, 2023

Getting a grip on identity fraud Sumsub Growing prevalence of AI-driven deepfakes, digital forgeries and identity ‘spoofing’ to obtain valuable personal and business data is impacting industries across the board.

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FinTech Cross-Border Deepfake Cross-Border Payments 105