Fintech News

JANUARY 17, 2024

What’s even more alarming is the stark increase in this fraud rate, which surged by 24 percent from 2022 to 2023. Meanwhile, in a separate incident in Singapore, the cybersecurity landscape saw a significant surge in phishing attempts targeting local entities in 2022.

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Fintech News

JUNE 6, 2024

Recent phishing and fraudulent cases involving multiple banks in Singapore have highlighted the severity of this issue and the urgent need for banks to enhance their security measures. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59

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Fintech News

JUNE 30, 2024

In 2023, more than US$25 billion was invested into gen AI startups, and 2024 is on track to reach new heights with US$18.8 Finally, it highlights the rise of AI-powered cyberattacks, with deepfakes and email phishing attacks increasing substantially. annually between 2022 and 2027, reaching US$26 billion.

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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.

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AI Fraud Detection Fraud Prevention Deepfake 59

Seon

SEPTEMBER 28, 2023

Verizon Business estimates that 74% of data breaches are down to individuals being absent-minded or tricked by social engineering attacks such as phishing emails. The diagram below shows the typical sequence of actions that phishing attackers take when carrying out social engineering attacks. The answer is security awareness training.

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Security Phishing Best Practices Data Breach 52

The Fintech Times

DECEMBER 21, 2023

We’re excited to share the thoughts of fintech CEOs and industry leaders from across the globe to 2023’s key takeaways and what we should expect to be top of the agenda in 2024.

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Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

Seon

JUNE 1, 2023

In fact, on February 27, 2023, FinCEN issued a report warning financial institutions of the rise in mail theft-related check fraud. After all, digital transactions have their own vulnerabilities, so the current rise in AI fraud , particularly deepfakes, may lead to an increase in the need for in-person check transactions.

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