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Fraudsters are exploiting GenAI tools such as large language models (LLMs), voice cloning, and deepfakes to carry out increasingly sophisticated scams that are harder to detect and prevent. Romance fraud: Deepfake images and videos help fraudsters create convincing personas to manipulate victims emotionally and financially.
Automated bot attacks on social media surged dramatically in the second quarter of 2024, according to AU10TIX ’s latest Global Identity Fraud Report. This rise highlights growing concerns about the ability of social media platforms to detect and combat organised fraud, particularly as bots become more sophisticated.
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. From Arnold Schwarzenegger, to Kim Kardashian, to maybe, just maybe: You. It’s like a Hollywood special effect.”.
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.
Agentic AI solutions provider for community banks and credit unions, interface.ai , has introduced a pair of new tools to help fight deepfake fraud. interface.ai’s device biometrics solution uses device-based fingerprint and facial recognition technology to authenticate users over voice and chat AI. CEO Srinivas Njay said.
Consider: Political-bot armies or fake user “sock puppets” are targeting social news feeds to computationally spread propaganda. Within a year, it will be extremely easy to create high-quality digital deceptions whose authenticity cannot be easily verified. Uncovering hidden metadata for authentication.
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