Fintech News

JANUARY 17, 2024

Meanwhile, in a separate incident in Singapore, the cybersecurity landscape saw a significant surge in phishing attempts targeting local entities in 2022. Over 80 percent of these phishing campaigns mimicked banks or financial services, including institutions based in China, as well as local services like Singpass and SingPost.

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Deepfake APACS Scams Authentication 118

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.

AI 52

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 67

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.

AI 57

AI Financial Crimes Crime Security 57

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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Acquirers Verification Deepfake AI 52

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

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

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

Today we hear insights from payments experts, including the adoption of tap-to-pay technology, the role of blockchain and AI in payments, flexible payment terms, security in authentication methods, PSD3 implementation, vertical-specific solutions, and the rise of digital wallets.

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Cross-Border Payments Cross-Border Online and Mobile Banking Payments 113

Seon

JUNE 1, 2023

On top of this, those industries that continue to rely on checks utilize them regularly because the presence of a physical paper trail means that transactions cannot be interfered with digitally, such as through hacking and phishing emails.

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Checks Security Fincen Payer 52

CB Insights

MAY 3, 2018

Online, the line between truth and falsehood is looking fragile as AI researchers develop technologies that can make undetectable fake audio and video. Automated laser phishing. Spotting AI-generated people. AI to create fake digital content . Key elements of the future of digital information warfare.

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Bots Deepfake Phishing AI 78