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.

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Finovate

MARCH 29, 2024

In today’s first conversation, Code & Capital talks with Generative AI expert and founder of Tamang Ventures Nina Schick about the way that AI could fundamentally reshape industries and economies this century the way the Internet did decades ago. At Zurich, he leads activities globally related to Generative AI and chatbots.

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AI Deepfake Fraud Detection Advisors 59

Fintech News

JUNE 30, 2024

Developing countries in the Asia-Pacific (APAC) region are embracing generative artificial intelligence (gen AI) at a faster pace than their advanced counterparts, driven by young employees and students, a new survey by Deloitte found. Additionally, employees from developing economies were found to be more enthusiastically embracing gen AI.

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AI APACS Deepfake Economy 94

The Fintech Times

JUNE 2, 2024

Fraud prevention decision-makers across Europe are well aware of the growth and danger of AI-driven identity and financial fraud, but are unprepared to combat it, Signicat , the European digital identity and fraud prevention solution provider, has revealed in a new report. “AI is only going to get more sophisticated from now on.

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AI Fraud Prevention Deepfake Account Takeovers 126

The Paypers

JUNE 3, 2022

Google has banned the training of AI systems that can be used to generate deepfakes on its Google Colaboratory (Colab) platform.

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Payments Dive

AUGUST 13, 2024

About a fifth of finance professionals in a recent survey said their organization has already been targeted by AI-driven deepfake or executive impersonation attacks.

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Deepfake Finance AI Payments 88

Finovate

JUNE 11, 2024

Identity proofing and fraud detection company AuthenticID launched a new solution today to detect deep fake and generative AI injection attacks. The company noted that it uses three, proprietary algorithms to prevent the majority of digital injection attacks that leverage AI-generated content.

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AI Fraud Detection Deepfake Verification 105

Fintech News

JUNE 18, 2024

The advancement of generative artificial intelligence (gen AI) has opened up new commercial, social, and technological opportunities. The document, released in May 2024, outlines challenges associated with gen AI and shares a comprehensive gen AI risk framework to guide financial institutions in using the technology in a responsible manner.

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AI Use Case Risk Deepfake 109

The Fintech Times

AUGUST 13, 2024

Identifying fraud in the age of artificial intelligence (AI) is much harder than it ever has been before. Fraudsters are more cunning and deceiving, taking advantage of those who either do not know or refuse to acknowledge the power of AI. What are some AI fraud trends we’re seeing in Latin America?

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AI Fraud Detection Fraud Prevention Deepfake 59

PYMNTS

DECEMBER 5, 2019

The rise of deepfakes — the eerily lifelike impersonations that superimpose heads onto bodies and bodies onto heads in seamless ways that integrate speech and movement, where nothing is as it seems — may be good for a laugh. The best defense against the fraudster armed with AI is to use AI to fight the battle.

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Deepfake Verification AI Authentication 55

The Paypers

JUNE 12, 2023

US-based Identity orchestration company Jumio has released a new research which reveals the disconnection between consumer awareness of AI and deepfakes and their risks to security.

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Deepfake Consumer AI Research 48

The Paypers

MAY 1, 2023

Forensic devices and identity verification solutions provider Regula has issued a survey showcasing that AI-generated identity fraud like deepfakes affects a third of businesses.

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Deepfake Verification AI 41

The Fintech Times

SEPTEMBER 11, 2024

AI-powered fraud-as-a-service (FaaS) platforms have enabled these mass-scale attacks, contributing to APAC now holding the highest global fraud rate, with 3.27 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 59

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.

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Deepfake Security Cybersecurity Procedures 69

Finovate

AUGUST 15, 2024

APIMatic APIMatic’s developer experience platform adds a layer of technology between fintech APIs and developers to make integrations faster through automation and AI. Features Automates the creation of SDKs Includes dynamic use case guides Delivers AI-generated integration code Who’s it for? CSS CSS introduces IMPACT 3.0,

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Deepfake Credit Union Payment APIs and Integration AI 59

The Paypers

AUGUST 9, 2024

Socure , a digital identity verification AI provider, has introduced Selfie Reverification, a solution for online customers to validate their identity.

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Deepfake Verification AI 36

The Fintech Times

MARCH 6, 2024

Artificial intelligence (AI) has been a godsend in the fintech industry. AI will not be the only development accelerating fraud attempts. The guide also identifies the dual role of AI in fraud dynamics, rising fraud types and countermeasures and the importance of strategic investment in fraud prevention.

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AI Fraud Prevention Identity Theft Deepfake 59

Nanonets

AUGUST 7, 2023

Join us as we dive headfirst into the captivating realm of AI image processing. What is AI Image Processing? At its core, AI image processing is the marriage of two cutting-edge fields: artificial intelligence (AI) and computer vision. How does AI Image Processing Work?  Hyperparameters (e.g.,

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Seon

JUNE 7, 2024

With its mimetic capabilities, AI-generated fraud is harder to detect and occurs at unprecedented volumes and velocities. How AI-Generated Fraud Works: Understanding the Threats AI-generated fraud represents a significant evolution in malicious activities, leaning on advanced technologies to create and execute sophisticated schemes.

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AI Innovation Fraud Prevention Fraud Detection 52

The Fintech Times

FEBRUARY 23, 2024

Deepfakes and threats of AI Such activity could lead to identity theft, which IDnow believes should be a concern to the UK public, especially given the rise in deepfake technology. Developments in generative artificial intelligence (AI) mean deepfake technology can now be used to create hyper-realistic fake documents.

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Deepfake Continuity Risk Smishing 69

Fintech News

MARCH 20, 2024

Fraud networks, however small they may seem right now, will gain prominence, just like AI-powered deepfakes. said Pavel Goldman-Kalaydin, Head of AI/ML at Sumsub. The damage of fraud rings is much more significant than that of individual scammers. Businesses must be prepared for this and protect their platforms in advance”.

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APACS Fraud Prevention Deepfake Account Takeovers 90

The Fintech Times

JANUARY 17, 2024

Artificial intelligence (AI) has emerged as a new fraud challenge finds ComplyAdvantage , the AI-driven fraud and AML risk detection firm, as it launches ‘The State of Financial Crime 2024’ report. Risks include deepfakes, sophisticated cyber hacks, and the use of generative AI to create malware.

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AI Financial Crimes Crime Security 59

The Paypers

APRIL 10, 2024

Payments, identities, and data company Entrust has completed its acquisition of Onfido , an identity verification company, to combat deepfakes and AI-powered cyber attacks.

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Deepfake Verification AI Payments 45

Fintech News

JANUARY 17, 2024

Synthetic identity fraud on the rise The emergence of AI generative models like DALL-E, ChatGPT, and others rapidly generate fake but credible identities, enabling criminals to create synthetic identities at scale. Fraud-as-a-Service allows automation of attacks The advent of AI generative models also enables new Fraud-as-a-Service offerings.

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Deepfake APACS Scams Authentication 110

Finovate

SEPTEMBER 10, 2024

Illuma for its innovations in deepfake detection that enable community financial institutions to keep their members and customers connected with their funds in a convenient and secure manner. Assistant , a virtual AI-powered assistant that revolutionizes finance. Nest Bank & Efigence for their collaboration, N!

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Fintech News

JULY 10, 2024

Sumsub reports significant increases in fraud, particularly in deepfakes, across the Philippines, Indonesia, and Malaysia. With rising fraud and the growing accessibility of AI tools, the demand for our verification and compliance solutions has never been higher.

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Identity Theft APACS Deepfake Money Laundering 86

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 103

PYMNTS

APRIL 5, 2019

Amid Apple ’s efforts to bolster its hardware and software with artificial intelligence (AI), an expert in the field has joined the tech company. GAN systems are also said to have been used for the creation of “deepfake” content. Ian Goodfellow is now a director of machine learning in Apple’s Special Projects Group, CNBC reported.

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AI Deepfake Research Acquirers 55

Seon

MAY 23, 2024

Additionally, the rise of AI and machine learning are introducing newly advanced, sometimes opaque, fraud detection systems based on blackbox machine learning , rendering teams without clear insights or customization options to tailor solutions to their business use case and best workflows.

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Fraud Prevention Deepfake Fraud Detection Authentication 52

The Fintech Times

MAY 12, 2024

Emerging technology such as AI has enabled threat actors to take a sophisticated approach to fraud, with global full-cycle identity verification platform, Sumsub , revealing a 10x increase in the number of deepfakes detected worldwide from 2022 to 2023.

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Financial Crimes Crime Money Laundering Deepfake 69

Fintech News

MAY 14, 2024

The convergence of exponential increases in processing power, continuous advancements in deep learning and neural networks, and the democratisation of AI tools has fueled a creative explosion in digital media. Deepfakes have since evolved into a formidable challenge for conventional identity verification methods.

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Deepfake Authentication Verification AI 110

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. Losses exceeded S$13 million (US$9.59 Malicious actors can now create highly convincing videos, images, or audio recordings with these tools.

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Scams Phishing Deepfake Verification 92

Seon

JUNE 27, 2024

We don’t know what AI will look like one year from today. The evolution of AI adds layers of complexity, presenting unprecedented opportunities and significant threats. On the one hand, AI’s capabilities enhance defense mechanisms, enabling the detection and counteraction of fraud with remarkable efficiency.

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Cybersecurity Fraud Detection Identity Theft Money Laundering 52

The Fintech Times

MAY 24, 2024

Artificial intelligence’s (AI) emergence in the fintech scene has been a blessing and a curse. The survey found that 62 per cent of UK respondents are not very confident their organisation has the identity management tools to defend against bad actors’ use of AI. Fraud is on the rise, and it’s getting worse with AI.

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Authentication MFA Deepfake AI 59

The Fintech Times

MAY 14, 2024

Proposed activities include cutting-edge research endeavors that push the boundaries of technology: faculty-led projects intersecting blockchain artificial intelligence (AI) and machine learning (ML) XRPL development workshops and programs an annual national blockchain and fintech conference Ali Emdad, Ph.D., interim dean for the Earl G.

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Finovate

FEBRUARY 8, 2024

The acquisition will bring AI/ML-based biometric and document IDV technology to Entrust’s portfolio of identity solutions. The acquisition would add an AI/ML-based biometric and document IDV tech stack to Entrust’s current portfolio of identity solutions. Both Entrust and Onfido are Finovate alums.

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Finovate

MAY 16, 2024

“With the explosion of new fraud vectors, our mission at Socure remains steadfast: use AI to deliver the most accurate anti-fraud and identity verification solutions in the industry,” Socure Founder and CEO Johnny Ayers said.

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