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. From Arnold Schwarzenegger, to Kim Kardashian, to maybe, just maybe: You. It’s like a Hollywood special effect.”.

Deepfake 55

Deepfake Verification Authentication AI 55

PYMNTS

AUGUST 24, 2020

This multifactor authentication strategy can be as easy as walking down the hall to meet face-to-face with the chief financial officer, yet with teams still working remote, the process has migrated to the phone or video chat. This is a great habit for all organizations to adopt, even if they're not yet seeing a threat from deepfakes.".

Deepfake 61

Deepfake Business Email Compromise Scams Multifactor Authentication 61

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 69

Deepfake Identity Theft Consumer Verification 69

The Fintech Times

DECEMBER 10, 2024

AI-powered automated document authentication and fraud detection solutions provider, IDVerse is set to be acquired by data and analytics platform, LexisNexis Risk Solutions and become a part of LexisNexis Risk Solutions Business Services to combat AI-generated fraud.

AI 64

AI Risk Acquirers Deepfake 64

Fintech News

JANUARY 17, 2024

These measures encompass additional customer authentication, cross-border transfer limit reviews, session management controls, and establishing a bank-to-bank information-sharing platform to safeguard the financial sector from evolving threats. Criminals can leverage deepfakes for extortion, brand sabotage, fraud, and other illicit schemes.

Deepfake 122

Deepfake APACS Scams Authentication 122

Finovate

DECEMBER 11, 2024

LexisNexis Risk Solutions has signed an agreement to acquire document authentication and fraud detection solutions provider IDVerse. The acquisition will enhance LexisNexis Risk Solutions’ ability to combat emerging threats such as AI-generated fraud and deepfakes. Terms were not disclosed.

Risk 52

Risk Acquirers Deepfake Fraud Detection 52

PYMNTS

JANUARY 8, 2020

The House’s Subcommittee on Consumer Protection and Commerce heard digital experts, as well as a representative from Facebook, testify in regards to the measures tech firms are using to fight against deepfakes, and what further actions should occur at the federal level, CNBC reported Wednesday (Jan. Chairwoman Jan Schakowsky, D-Ill.,

Deepfake 57

Deepfake Consumer Protection Cybersecurity Verification 57

Neopay

FEBRUARY 27, 2025

The financial sector is facing an unprecedented surge in AI-driven fraud, with deepfake-related attacks increasing by a staggering 2,137% over the past three years. of all fraud attempts detected in the financial sector now involve AI-generated forgeries, with deepfakes leading the charge. According to the research, 42.5%

Deepfake 52

Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

The Paypers

MARCH 11, 2025

AuthID has published a whitepaper examining the growing risks posed by deepfake technology in digital authentication and outlining strategies to mitigate these threats.

Deepfake 36

Deepfake Authentication Mitigation Risk 36

Fintech News

SEPTEMBER 9, 2024

.” In the Philippines, The Philippine Statistics Authority in partnership with the Department of Information and Communications Technology, launched the Digital National ID this June, together with authentication platforms, National ID eVerify and National ID Check.

Deepfake 126

Deepfake PCI DSS Verification Financial Inclusion 126

Fintech News

FEBRUARY 19, 2025

IDVerse, founded in Australia in 2018, specialises in document authentication and biometric identity verification. With consumer consent, IDVerse’s AI verifies authenticity before matching the consumer’s face to the document photo.

Risk 78

Risk Deepfake Fraud Detection Fraud Prevention 78

Finovate

JUNE 11, 2024

An injection attack occurs when a fraudster injects a deepfake– which could be a synthetic document, video, facial image, or audio representation– into an identity verification workflow to spoof the system. This works to bypass traditional fraud detection and identity verification methods.

AI 105

AI Fraud Detection Deepfake Verification 105

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. Now, Michael Marcotte, CEO of artius.iD , a digital ID and authentication firm, is calling on the cybersecurity industry to put banking at the top of the agenda.

Deepfake 69

Deepfake Security Cybersecurity Procedures 69

Finovate

FEBRUARY 21, 2025

Voice authentication solutions provider Illuma received strategic financing from Stifel Bank. ” Illuma will use today’s financing to help community banks and credit unions enhance security and streamline authentication processes across voice channels. . “We are excited to support their continued growth.”

Authentication 52

Authentication Finance Security Due Diligence 52

The Payments Association

DECEMBER 9, 2024

Enhanced fraud detection extends to biometric authentication, a key element of payment security. This adaptability strengthens biometric authentication, adding protection for consumers and businesses. The potential for misuse of AI in creating deepfakes or facilitating fraud adds another layer of ethical complexity.

Privacy 88

Privacy Payment Security AI Security 88

The Fintech Times

MAY 24, 2024

The urgency to manage AI-related identity risks, including deepfakes , is low in the UK with around one third (35 per cent) already having a strategy in place to manage threats of this nature. Only 45 per cent of global organisations have implemented multi-factor authentication (MFA). respondents saying the same.

Authentication 59

Authentication MFA Deepfake AI 59

Fintech News

MARCH 19, 2024

This collaboration will see Accredify integrating Okta’s advanced identity management solutions, including Single Sign-On (SSO) and Multi-Factor Authentication (MFA), to benefit its clientele.

MFA 107

MFA Deepfake Credential Privacy 107

The Fintech Times

SEPTEMBER 11, 2024

Bots and deepfakes The rise of bots using deepfake technology to create convincing fake profiles poses an additional challenge. Bots and deepfake tech are enabling criminals to automate complex scams that used to take a lot more effort, making them incredibly efficient and dangerous,” said Dan Yerushalmi , CEO of AU10TIX.

Bots 59

Bots Deepfake Automation APACS 59

The Payments Association

OCTOBER 22, 2024

This increase was driven by fraudsters leveraging sophisticated techniques, such as fraud networks, phishing scams and AI-generated deepfakes, to trick victims into authorising payments. While fraudsters use it to create deepfakes and manipulate unsuspecting victims, financial institutions can also harness AI to combat these threats.

Rules 88

Rules Fraud Prevention Caps Deepfake 88

Finovate

SEPTEMBER 24, 2024

Voice authentication technology innovator Illuma Labs has raised $9 million in funding. ” Illuma Labs offers banks, credit unions, and other financial institutions the ability to replace their traditional, knowledge-based authentication protocols with a secure, real-time voice authentication solution.

Credit Union 59

Credit Union Deepfake Authentication Fraud Prevention 59

Seon

MAY 23, 2024

Traditional anti-fraud methods, like device checks, two-factor authentication (2FA), biometrics and security questions, are outdated against emerging innovative technologies that are compelling new forms of sophisticated fraud. Spoofing involves replicating or falsifying biometric data to deceive authentication systems.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

Fi911

OCTOBER 11, 2023

In doing so, it protects our banking processes and ensures only authentic interactions. Liveness detection is a pivotal security feature in different authentication processes, including biometric verification. The underlying premise is simple: authentic human features display innate motions and expressions.

Deepfake 52

Deepfake Verification Authentication 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.

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

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.

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Credential FinTech Deepfake Fraud Detection 64

PYMNTS

NOVEMBER 11, 2019

The method is more secure than photo-based remote KYC solutions, but companies intending to use it must first resolve complicated decisions about execution, including whether to have live video calls and how their processes will protect against deepfakes. Get the full scoop in the Tracker. About The Tracker.

Money Laundering 64

Money Laundering AML Online and Mobile Banking Deepfake 64

Seon

JUNE 7, 2024

One common tactic is fraudsters generating fake documents and data (or using synthetic IDs), all of which are crafted precisely and closely resemble authentic materials. Biometric authentication, a technology frequently conflated with behavioral analysis, is inaccurate in identifying patterns and is vulnerable to spoofing.

AI 52

AI Innovation Fraud Prevention Fraud Detection 52

Finovate

FEBRUARY 8, 2024

Entrust would also be able to leverage biometric, phishing-resistant authentication for use in high-value transactions. “Deepfakes and synthetic identity are driving a global need for a powerful level of identity assurance that facilitates crucial digital journeys in banking, finance, government, travel, and more,” Wilkinson said.

Acquirers 52

Acquirers Verification Deepfake AI 52

PYMNTS

SEPTEMBER 10, 2019

He recommended third-party validation for any financial requests, as well as the adoption of payment procedures that similarly require multi-step authentication and approval. It’s unclear how much money that company lost, while cyber experts also say it’s not certain whether such “deepfake” tactics will become the norm.

Email Compromise 46

Email Compromise Compromise Cybersecurity Scams 46

Finovate

OCTOBER 3, 2024

Last month, IDVerse announced the beta launch of its real-time face matching solution , Face Access , that offers 99.998% accuracy and instant, secure user authentication.

Verification 59

Verification Deepfake Fraud Prevention User Authentication 59

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 52

Account Takeovers Deepfake Research Posting 52

Fintech Finance

FEBRUARY 29, 2024

Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment. Socure’s predictive machine learning models coupled with Trustly’s Open Banking authentication and data mitigate these emerging risks.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

Finovate

JULY 29, 2024

In the past few years, companies like Corsound AI ( FinovateEurope 2024 Best of Show winner ) to 1Kosmos ( FinovateSpring 2023 Best of Show winner ) have stood out among fellow fintechs for their innovations in everything from deepfake detection to passwordless authentication.

Cybersecurity 59

Cybersecurity Online and Mobile Banking Deepfake Breach 59

PYMNTS

SEPTEMBER 12, 2019

The latest AMC/KYC Tracker examines current efforts to stop money laundering, fight fraud and improve customer identity authentication in the financial services space. The Cost of Compliance. The projected 2020 cost of AML compliance across all U.S. financial services firms is $26.4 billion, a figure that is set to increase.

Procedures 46

Procedures Cryptocurrency Regulations AML 46

Seon

SEPTEMBER 28, 2023

This includes protecting themselves with approaches such as multi-factor authentication and malware recognition, or using reverse lookup to assess whether someone is trustworthy. Password management : Using multi-factor authentication (MFA) and password managers. Modern security measures, such as biometric authentication and MDM.

Security 52

Security Phishing Best Practices Data Breach 52

PYMNTS

NOVEMBER 14, 2019

While this KYC strategy is among the most secure, he warned that it relies on a high level of human expertise, a resource that not every business can afford. “Both prerecorded and live video KYC methods encounter similar challenges,” the Tracker explained. ”

Online and Mobile Banking 59

Online and Mobile Banking AML Small Business Mobile Banking 59

PYMNTS

NOVEMBER 13, 2019

The company then reviews the recorded videos for authenticity. Fraudsters could upload pre-recorded videos of other people, wear masks or use deepfakes to try to hide their true identities. Video KYC that does not involve live staff interaction may be easier to trick, however.

Verification 40

Verification Deepfake AML Security 40

PYMNTS

MARCH 29, 2019

You want to authenticate your users so you know who they are, and you want to stop fraud,” he said. 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.

Security 40

Security Verification Account Takeovers Deepfake 40