Remove Account Takeovers Remove Accounts Remove Deepfake
article thumbnail

72% of Consumers Worry About Becoming a Victim of Fraud Due to Deepfakes, Jumio Finds

The Fintech Times

The rapidly increasing prevalence of AI-generated content and deepfakes has left many questioning everything they see online. In fact, as much as 72 per cent of consumers worry on a day-to-day basis about being fooled by a deepfake into handing over sensitive information or money.

article thumbnail

Sumsub Combats Fraud Networks in APAC With Upgraded Solution

Fintech News

This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks. The updated solution extends beyond traditional anti-fraud and KYC measures to offer comprehensive protection against various types of fraud, including account theft and payment fraud.

APACS 105
article thumbnail

Organisations Remain Unprepared to Fight AI-Driven Fraud, Signicat Reveals

The Fintech Times

The digital identity firm revealed that account takeover attacks are the most popular type of fraud, often taking advantage of weak or reused passwords. Deepfakes, often used to impersonate the holder of an account rather than creating a new or synthetic identity, are far more popular, accounting for one in 15 fraud attempts.

AI 126
article thumbnail

Six Alums Raised More Than $16 Million in Q3 2024

Finovate

The company won Best of Show at FinovateFall in September for a demo of its Illuma Shield real-time voice authentication solution, now equipped with the latest deepfake detection technology to help prevent account takeover fraud.

article thumbnail

Taking the Preemptive Strike to Thwart Rising Scams and Fraud in ASEAN Banking

Fintech News

The Jumio 2024 Online Identity Survey reveals that 85% of Singaporean consumers are willing to spend more time on identity verification measures when accessing financial services accounts to improve security. Malicious actors can now create highly convincing videos, images, or audio recordings with these tools.

Scams 105
article thumbnail

Emergence of New Tech Like AI Will Cause an Uptake in New Fraud Attempts Reveals SEON

The Fintech Times

In fact, 71 per cent of respondents named it as the number one issue, particularly in automated attacks and deepfake technologies. Seventy-three per cent of respondents expect an uptick in these types of fraud: phishing, synthetic fraud, identity theft, account takeovers (ATO) and money-laundering.

AI 59
article thumbnail

Socure and Trustly Partner to Offer Industry-First Streamlined Onboarding and Open Banking Payments Process for Merchants and Fintechs

Fintech Finance

Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment. The partnership addresses key needs as more commerce moves online and fraudsters find new and sophisticated ways to exploit legacy identity verification and fraud prevention approaches.