Remove Cybersecurity Remove Deepfake Remove Identity Theft
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Deepfake Fraud Jumps by 194% in APAC, as Fraud-as-a-Service Becomes More Widespread, Sumsub Reveals

The Fintech Times

The verification platform also recorded significant surges in identity fraud in: Singapore (207 per cent) Indonesia (205 per cent) Thailand (201 per cent) Meanwhile, deepfake fraud saw a 194 per cent YoY spike in APAC and increased four times globally, now making up seven per cent of all fraud attempts in 2024.

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72% of Consumers Worry About Becoming a Victim of Fraud Due to Deepfakes, Jumio Finds

The Fintech Times

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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Balancing AI’s Benefits and Threats Across Fraud and Cybersecurity

Seon

Such uncertainty is unwelcome in cybersecurity and fraud. This potential evolution compounds the circumstances regarding how the technology will impact fraud and cybersecurity measures, presenting significant risks and transformative opportunities. These advancements have changed the way we approach cybersecurity and fraud detection.

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The Shifting Landscape of Fraud and Identity in 2024

Fintech News

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

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Despite Knowing Risks, Brits Continue to Expose Themselves to Cybercriminals Finds IDnow

The Fintech Times

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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Taking the Preemptive Strike to Thwart Rising Scams and Fraud in ASEAN Banking

Fintech News

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. Malicious actors can now create highly convincing videos, images, or audio recordings with these tools.

Scams 101
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Emergence of New Tech Like AI Will Cause an Uptake in New Fraud Attempts Reveals SEON

The Fintech Times

In fact, 71 per cent of respondents named it as the number one issue, particularly in automated attacks and deepfake technologies. Seventy-three per cent of respondents expect an uptick in these types of fraud: phishing, synthetic fraud, identity theft, account takeovers (ATO) and money-laundering.

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