Remove Account Takeovers Remove Deepfake Remove Phishing
article thumbnail

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

Fintech News

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).

Scams 106
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

Em Conversa: Fighting AI Fraud With AI With Lynx Tech

The Fintech Times

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 59
article thumbnail

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

The Fintech Times

“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.