Account Takeovers and Deepfake

Deepfake Fraud Jumps by 194% in APAC, as Fraud-as-a-Service Becomes More Widespread, Sumsub Reveals

The Fintech Times

NOVEMBER 19, 2024

The verification platform also recorded significant surges in identity fraud in: Singapore (207 per cent) Indonesia (205 per cent) Thailand (201 per cent) Meanwhile, deepfake fraud saw a 194 per cent YoY spike in APAC and increased four times globally, now making up seven per cent of all fraud attempts in 2024.

Deepfake

Deepfake APACS Account Takeovers Identity Theft

Digital Document Forgeries Overtake Physical Forgeries For the First Time As Deepfakes on the Rise

The Fintech Times

NOVEMBER 20, 2024

In its sixth edition, the 2025 Identity Fraud Report found that attacks involving deepfakes happened every five minutes in 2024, and digital document forgeries increased by 244 per cent year over year. Another way fraudsters are abusing financial firms is through AI-assisted deepfakes.

Deepfake

Deepfake Phishing Account Takeovers AI

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

The Fintech Times

MAY 17, 2024

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.

Deepfake

Deepfake Identity Theft Consumer Verification

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Sumsub Combats Fraud Networks in APAC With Upgraded Solution

Fintech News

MARCH 20, 2024

This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks. Fraud networks, however small they may seem right now, will gain prominence, just like AI-powered deepfakes. The damage of fraud rings is much more significant than that of individual scammers.

APACS

APACS Fraud Prevention Deepfake Account Takeovers

3 Ways Fintechs are Helping Financial Institutions Fight Fraud

Finovate

AUGUST 14, 2024

From the challenge of AI-powered deepfakes to the sad fact that many of our own bad habits continue to keep fraudsters in business, fintechs are busy developing solutions to help us get and stay at least one step ahead of the bad guys. The battle against fraud is a never-ending one. “Identity verification isn’t a one-time event.

Credential

Credential FinTech Deepfake Fraud Detection

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

The Fintech Times

JUNE 2, 2024

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

AI Fraud Prevention Account Takeovers Deepfake

Six Alums Raised More Than $16 Million in Q3 2024

Finovate

SEPTEMBER 30, 2024

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.

Account Takeovers

Account Takeovers Deepfake Posting Research

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

The Fintech Times

MARCH 6, 2024

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

AI Fraud Prevention Identity Theft Account Takeovers

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

Fintech Finance

FEBRUARY 29, 2024

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.

Fraud Prevention

Fraud Prevention Process FinTech Online and Mobile Banking

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

Fintech News

JUNE 6, 2024

Frederic Ho, VP, Asia Pacific, Jumio “However, with the rise of advanced deepfake and face-swapping technologies, relying solely on biometric identity verification is no longer adequate. Malicious actors can now create highly convincing videos, images, or audio recordings with these tools.

Scams

Scams Phishing Deepfake Verification

Em Conversa: Fighting AI Fraud With AI With Lynx Tech

The Fintech Times

AUGUST 13, 2024

Fraudsters are leveraging artificial intelligence (AI) tools like voice cloning and deepfakes to create highly convincing fake audio or video messages to deceive victims into transferring money or revealing sensitive information. This leaves many vulnerable to sophisticated AI-powered attacks like deepfakes and voice cloning.

AI

AI Fraud Detection Fraud Prevention Deepfake

Payments 2024: Predictions With Brightwell, 40Seas, Wink, ConnectPay, Swipesum, Paystrax

The Fintech Times

DECEMBER 21, 2023

“With new technology, however, comes elevated risks, which will lead financial institutions to adapt their strategies to counter these issues such as new types of fraud, deepfakes and advanced phishing schemes. “As hackers continue to gain access to powerful AI tools, we can expect this trend to gain greater prominence in 2024.

Cross-Border Payments

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

How Freelancer.com Securely Onboards Global Employers And Gig Workers

PYMNTS

MARCH 29, 2019

Technology can provide strong support, but not much can beat the security of a live video feed, he added – unless, of course, deepfake videos become more sophisticated. “We try to make the process as seamless as possible by having an operator available to talk to you while … we’re looking at your documents,” Barrie said. .

Security

Security Verification Account Takeovers Deepfake

Payments Space

Deepfake Fraud Jumps by 194% in APAC, as Fraud-as-a-Service Becomes More Widespread, Sumsub Reveals

Digital Document Forgeries Overtake Physical Forgeries For the First Time As Deepfakes on the Rise

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

Webinars

Sumsub Combats Fraud Networks in APAC With Upgraded Solution

3 Ways Fintechs are Helping Financial Institutions Fight Fraud

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

Six Alums Raised More Than $16 Million in Q3 2024

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

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

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

Em Conversa: Fighting AI Fraud With AI With Lynx Tech

Payments 2024: Predictions With Brightwell, 40Seas, Wink, ConnectPay, Swipesum, Paystrax

How Freelancer.com Securely Onboards Global Employers And Gig Workers

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