Fighting deepfakes via payments
Payments Dive
JUNE 12, 2024
“Since many of these deepfake software services accept credit cards, payments providers are on the front lines of detecting these companies,” writes one corporate compliance officer.
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Payments Dive
JUNE 12, 2024
“Since many of these deepfake software services accept credit cards, payments providers are on the front lines of detecting these companies,” writes one corporate compliance officer.
Fintech News
APRIL 7, 2024
In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. Economic Ramifications of Deepfake Scams The global impact of impersonation scams can be far-reaching, and expensive.
Fintech News
JULY 24, 2024
A recent study by Jumio , a provider AI-driven identity verification and compliance solutions, has found that a significant majority of Singapore consumers are concerned about the impact of deepfakes on the upcoming elections. It revealed that 83% of Singaporeans are concerned about for AI and deepfakes in politics, compared to 75% globally.
Fintech News
MAY 14, 2024
However, this powerful technology has also been exploited by malicious actors to create deepfakes – highly convincing simulations of individuals saying or doing things they never actually did. Deepfakes have since evolved into a formidable challenge for conventional identity verification methods.
Fintech News
JUNE 26, 2024
The increasing sophistication of fraud tactics, such as deepfakes and voice cloning, has heightened these concerns. Deepfake technology is being used more frequently to trick consumers into revealing sensitive information, driving a significant portion of the anxiety. said Anna Convery, CMO of Jumio.
Evolve Payment
OCTOBER 22, 2024
These AI-created images, videos, and audio content, called deepfakes, showcase how advanced AI generation tools have become. AI deepfakes often have convincing video and voice manipulation, making them increasingly difficult to identify–and this technology is only becoming more advanced and easily accessible.
The Fintech Times
FEBRUARY 9, 2024
It saw a 672 per cent increase from H1 2023 to H2 2023 in the use of deepfake media such as face swaps deployed alongside metadata spoofing tools. “While the data in our report highlights that face swaps are currently the deepfake of choice for threat actors, we don’t know what’s next.
Finextra
NOVEMBER 14, 2024
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued an alert to help banks to spot GenAI-generated deepfake scams.
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.
Finextra
AUGUST 14, 2024
Crooks are circulating AI-generated deepfake videos of Prince William and UK prime minister Keir Starmer on Facebook and Instagram to dupe viewers into scam cryptocurrency investments.
The Fintech Times
AUGUST 7, 2024
As much as 53 per cent of Brits have either never heard of the term deepfake or misunderstood its meaning, British bank Santander has revealed, as part of a new initiative to warn consumers about the dangers of AI deepfake scams.
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.”.
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.
Finovate
APRIL 29, 2024
Episode 210 – Richard Weston, Tuum Greg Palmer catches up with Corsound AI CEO Gal Haselkorn to discuss cutting-edge developments in voice intelligence and deepfake detection. Demo video. Demo video. Episode 209 – Gal Haselkorn, Corsound.ai
PYMNTS
AUGUST 24, 2020
Tessian Co-founder and CEO Tim Sadler warns that this has created an ideal environment for cyberattackers wielding a quickly emerging technology: deepfakes. With more employees relying on the phone, as well as video conferencing platforms, to communicate with their teams, it presents an ideal environment for deepfake technology to take hold.
Finextra
JUNE 12, 2024
In 2021, a wave of deepfake videos started to emerge across the internet and social media. From humo.
Payments Source
FEBRUARY 9, 2020
Fraudsters are smarter and more devious than ever before. With that evolution comes an increase in successful fraud attempts, seen especially by companies that do not practice modern payment safety protocols.
The Fintech Times
NOVEMBER 20, 2024
In its sixth edition, the 2025 Identity Fraud Report found that attacks involving deepfakes happened every five minutes in 2024, and digital document forgeries increased by 244 per cent year over year. Another way fraudsters are abusing financial firms is through AI-assisted deepfakes.
The Paypers
JUNE 3, 2022
Google has banned the training of AI systems that can be used to generate deepfakes on its Google Colaboratory (Colab) platform.
Finextra
AUGUST 7, 2024
Santander has launched a campaign to demonstrate the threat to consumers from 'deepfake' videos circulating on social media platforms.
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.,
Payments Source
FEBRUARY 20, 2020
Fending off these kinds of attacks requires training personnel on a strict process for validating suppliers' banking data during supplier onboarding, especially when receiving any data change requests, says Noicepay's Doug Seaberg.
The Fintech Times
AUGUST 13, 2024
On this week’s episode of News & Views, The Fintech Times podcast team take a look into the latest initiative to protect people from the dangers of deepfakes and chats about TotallyMoney ‘s product expansion offering a greater choice of loan products thanks to a new partnership.
Fintech News
NOVEMBER 6, 2024
In response to the growing threat of deepfake technologies, Ant International has also developed an advanced anti-deepfake electronic Know Your Customer (e-KYC) tool. To ensure reliability, Ant International maintains safeguards with human intervention ready to address discrepancies, avoiding over-reliance on AI.
Fintech News
JANUARY 17, 2024
The menace of deepfakes and disinformation The exponential growth of APAC’s digital economy also enables new disinformation threats. According to Sumsub, advanced deepfake technologies allow easy manipulation of audio, video, and images to spread fake news or defame individuals.
Fintech Finance
NOVEMBER 7, 2024
In deploying AI in merchant services, enhanced fraud detection and prevention against new scamming schemes like deepfaking is as important, if not more important, as increasing operational efficiency,” says Yang Peng, Chief Executive Officer of Ant International.
The Paypers
JUNE 12, 2023
US-based Identity orchestration company Jumio has released a new research which reveals the disconnection between consumer awareness of AI and deepfakes and their risks to security.
The Payments Association
OCTOBER 25, 2023
Sumsub, a full-cycle verification platform, today releases its “State of Verification and Monitoring in the Crypto Industry 2023” report. The findings focus.
Fintech News
DECEMBER 10, 2024
This move will enable LexisNexis Risk Solutions to further enhance its capabilities in combating AI-generated fraud, including deepfakes. Rick Trainor Rick Trainor, CEO of Business Services for LexisNexis Risk Solutions, said, AI-powered solutions are necessary to counter the threat of AI-generated fraud attacks, including deepfakes.
The Paypers
NOVEMBER 15, 2024
The US Department of the Treasury’s Financial Crimes Enforcement Network ( FinCEN ) has proceeded with issuing a warning to support financial institutions in identifying fraud schemes involving deepfake media.
The Payments Association
NOVEMBER 1, 2023
Sumsub, a full-cycle verification platform, releases its 'State of Verification and Monitoring in the Crypto Industry 2023' report.
Fintech News
MARCH 20, 2024
Fraud networks, however small they may seem right now, will gain prominence, just like AI-powered deepfakes. In Myanmar and other Southeast Asian countries, cyber scam rings target victims with fraudulent schemes like fake jobs or investments. The damage of fraud rings is much more significant than that of individual scammers.
Payments Source
FEBRUARY 12, 2020
Square has buttressed its deep-learning with the purchase of Dessa, a Toronto-based machine learning startup that specializes in advanced risk management.
The Paypers
MAY 1, 2023
Forensic devices and identity verification solutions provider Regula has issued a survey showcasing that AI-generated identity fraud like deepfakes affects a third of businesses.
BioCatch
DECEMBER 6, 2023
Criminals aren’t slouches when it comes to technology – quite the contrary. Just because they chose a life of crime doesn’t make them inherently lazy. In fact, they’ve demonstrated a level of creativity and problem solving that has made digitally enabled crimes, such as scams, harder and harder to stop.
Fintech News
SEPTEMBER 9, 2024
Battling the growing threat of deepfakes with digital identity But really, how important is digital identity to a flourishing digital banking ecosystem?
Finextra
NOVEMBER 19, 2024
Digital document manipulation using AI and deepfakes have been revealed as the biggest growing threats facing the financial services industry going into 2025, according to a report by the Entrust Cybersecurity Institute.
The Paypers
NOVEMBER 4, 2024
Regula , a worldwide developer of forensic devices and identity verification solutions, has released its new survey which underlines the financial impact of deepfake fraud.
Fintech News
MARCH 12, 2024
This trend is underscored by Sumsub’s reports, which note a 128 percent increase in deepfake incidents in 2023, with the Asia-Pacific region experiencing a 1530 percent surge. This partnership between Sumsub and Chainalysis responds to the increasing digital fraud in the crypto sector.
The Paypers
JUNE 23, 2023
UK-based security and transaction monitoring solutions provider Sumsub has launched an advanced deepfake detection technology.
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. As deepfakes proliferate, a trickle of lawsuits has the potential to become a flood – and one which absolutely could sink the banks. Michael Marcotte, CEO of artius.iD
Fintech News
JUNE 30, 2024
Finally, it highlights the rise of AI-powered cyberattacks, with deepfakes and email phishing attacks increasing substantially. Sumsub’s 2023 Identity Fraud Report reveals a tenfold increase in the number of deepfakes detected globally from 2022 to 2023, with the crypto and fintech sectors accounting for 96% of these cases.
The Paypers
NOVEMBER 14, 2024
US-based identity platform Persona has partnered with Okta to deliver an automated identity verification solution and support organisations to safeguard against phishing and deepfakes.
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