The Fintech Times

AUGUST 14, 2024

In the wrong hands, however, it can be incredibly harmful, especially with the emergence of deepfakes. A new survey from iProov , the biometric solutions provider, has revealed the attitudes on the threat of generative AI and deepfakes across the UK, US, Brazil, Australia, New Zealand and Singapore.

Deepfake 75

Deepfake AI Phishing Ransomware 75

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 120

Deepfake APACS Scams Authentication 120

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 Deepfake Caps 88

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anti-fraud methods, like device checks, two-factor authentication (2FA), biometrics and security questions, are outdated against emerging innovative technologies that are compelling new forms of sophisticated fraud.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

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. This includes protecting themselves with approaches such as multi-factor authentication and malware recognition, or using reverse lookup to assess whether someone is trustworthy.

Security 52

Security Phishing Best Practices Data Breach 52

Finovate

FEBRUARY 8, 2024

Entrust would also be able to leverage biometric, phishing-resistant authentication for use in high-value transactions. “Step-up authentication using biometric-based, AI-driven identity verification will be critical to ensuring security, privacy, and trust in these high-value digital-first interactions.”

Acquirers 52

Acquirers Verification Deepfake AI 52

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. Other AI applications include enhancements to traditional scams, such as phishing and social engineering attacks.

AI 52

AI Innovation Fraud Prevention Fraud Detection 52