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.
Deepfake Related Topics 
AI and Deepfakes Raise Concerns for Singapore Voters Ahead of Elections
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.
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iProov Highlights Role of Biometrics in Combatting Deepfakes and Misused Generative AI
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.
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Keir Starmer and Prince William used in deepfake crypto scam
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.
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Santander Ramps Up Efforts to Make Dangers of Deepfake Tech Known to Brits
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.
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Jumio Study: Deepfakes, Fraud Fears Drive Demand for Stronger Bank Security
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.
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Unmasking the Threat of Deepfake Scams in the Financial Sector of Asia
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.
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News & Views Podcast | Episode 163: Deepfake Tech & Aro’s secure loan advice
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.
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Santander circulates deepfakes to raise awareness of scam threat
Finextra
AUGUST 7, 2024
Santander has launched a campaign to demonstrate the threat to consumers from 'deepfake' videos circulating on social media platforms.
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iProov Outlines 672% Rise in Deepfake Media as Threat Actors Increase Productivity
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.
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72% of Consumers Worry About Becoming a Victim of Fraud Due to Deepfakes, Jumio Finds
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.
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Protecting against deepfake fraud in the financial industry
Finextra
JUNE 12, 2024
In 2021, a wave of deepfake videos started to emerge across the internet and social media. From humo.
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Deepfakes’ Next Stop: Banking
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.”.
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Jumio survey: Consumers overestimate their ability to detect deepfakes
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.
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Deepfakes Threaten To Become The New BEC Scam
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.
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Regula survey: a third of businesses hit by deepfake fraud
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.
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Sumsub launches an advanced deepfake detection technology
The Paypers
JUNE 23, 2023
UK-based security and transaction monitoring solutions provider Sumsub has launched an advanced deepfake detection technology.
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Google banks AI systems used to generate deepfakes on Colab
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.
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Cyberexperts Flag Danger Of Deepfakes At House Hearing
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.,
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Automated Bot Attacks Surge on Social Media in 2024, AU10TIX Reveals
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.
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Socure adds selfie reverification with deepfake detection
Finextra
AUGUST 9, 2024
Socure, the leading provider of artificial intelligence for digital identity verification, sanctions screening, and fraud prevention, has announced Selfie Reverification – a way to validate return consumers online with a simple selfie from any device in under 2 seconds.
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70% of Crypto Companies Report Deepfake Fraud Rise
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.
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Banking Execs Must ‘Wake Up’ as Security Measures Fail to Keep Up With Biometric Fraud
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
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Rise in deepfake fraud reported by 70% of crypto companies
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.
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Socure reveals Selfie Reverification with Deepfake Detection
The Paypers
AUGUST 9, 2024
Socure , a digital identity verification AI provider, has introduced Selfie Reverification, a solution for online customers to validate their identity.
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Code & Capital: AI Versus the Internet and Harnessing the Power of Gen AI
Finovate
MARCH 29, 2024
Schick also discusses use cases for Generative AI in financial services and the threat posed by AI-powered deepfakes. An author, advisor, and keynote speaker, Schick is an expert in synthetic media, deepfakes, disinformation, cybersecurity, and the geopolitics of technology.
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77% of cybersecurity decision-makers concerned about deepfakes
The Paypers
JANUARY 29, 2020
A new study from iProov has revealed that 77% of cybersecurity decision-makers in financial services are concerned about the threat deepfakes pose to their industry.
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Deepfakes are a real threat for payment security
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.
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Deepfakes and social engineering subvert fraud prevention
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.
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Undetectable Scams: How the Combination of Deepfakes and Large Language Models Will Change the Game
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.
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The Shifting Landscape of Fraud and Identity in 2024
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.
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Despite Knowing Risks, Brits Continue to Expose Themselves to Cybercriminals Finds IDnow
The Fintech Times
FEBRUARY 23, 2024
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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Daon launches xSentinel to fight voice deepfakes
The Paypers
DECEMBER 19, 2023
Digital identity trust company, Daon , has recently announced that it will add its xSentinel solution in Australia and New Zealand to fight against synthetic audio attacks.
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UK public unaware of deepfake threat, research from iProov reveals
The Paypers
OCTOBER 1, 2019
(The Paypers) A new nationwide study from iProov has revealed a lack of awareness and education around deepfake technology amongst the UK public.
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Entrust finalises Onfido acquisition
The Paypers
APRIL 10, 2024
Payments, identities, and data company Entrust has completed its acquisition of Onfido , an identity verification company, to combat deepfakes and AI-powered cyber attacks.
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FinovateFall 2024 Sneak Peek Series: Part 4
Finovate
AUGUST 15, 2024
Corsound AI Corsound AI enhances security against voice fraud with patented voice-to-face technology and deepfake detection, backed by over 200 autonomous AI patents.
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Sumsub Combats Fraud Networks in APAC With Upgraded Solution
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.
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Square buys Canadian deepfake detector Deesa
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.
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FinovateFall 2024 Best of Show Winners Announced
Finovate
SEPTEMBER 10, 2024
Illuma for its innovations in deepfake detection that enable community financial institutions to keep their members and customers connected with their funds in a convenient and secure manner. Eko Investments for its platform that offers investments via a financial advisor to all clients–and not just the top 1%–starting from $10.
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APAC’s Developing Countries Leading the Way in Generative AI Adoption
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.
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AuthenticID Launches Deep Fake and Generative AI Detection Solution
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.
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Sumsub Bolsters Presence in Southeast Asia with New Partnerships
Fintech News
JULY 10, 2024
Sumsub reports significant increases in fraud, particularly in deepfakes, across the Philippines, Indonesia, and Malaysia. These partnerships aim to enhance fraud prevention efforts and strengthen the business environment in the region. As Southeast Asia’s digital economy continues to grow, so do opportunities for fraudsters.
Authenticity in the Era of Deepfakes: The Multi-Layered ZOLOZ eKYC Approach
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.
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