FinCEN warns banks about deepfake threat
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.
Deepfake Financial Crimes Scams 
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Digital Document Forgeries Overtake Physical Forgeries For the First Time As Deepfakes on the Rise
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. It is essential for preventing fraud and financial crime. It is a staggering 1,600 per cent increase since 2021.
Three ways APP mandatory reimbursement can work for PSPs and victims of fraud and scams
The Payments Association
OCTOBER 21, 2024
The UK’s increasing fraud and scam problem, focusing on new regulations mandating automatic reimbursement for APP fraud victims. The UK’s fraud and scams problem is not going away. Fraud still accounts for almost 40% of all crime in England and Wales, and with an estimated 3.2 What is this article about? What’s next?
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.
The PSR’s new fraud refund rules: A step forward, but is it enough?
The Payments Association
OCTOBER 22, 2024
As fraud continues to rise, especially with the emergence of AI-powered scams, is this new regulation enough to tackle the ever-evolving threat of financial fraud? As scams become more advanced, even the most cautious consumers are falling victim. AI is a double-edged sword in fraud prevention.
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. This means that synthetic identity fraud is now the fastest-growing category of financial crime in the US – and costing banks as much as $6billion.
8 in 10 Financial Firms Investing in Security to Protect Them From Emerging AI Fraud Threats
The Fintech Times
JANUARY 17, 2024
Artificial intelligence (AI) has emerged as a new fraud challenge finds ComplyAdvantage , the AI-driven fraud and AML risk detection firm, as it launches ‘The State of Financial Crime 2024’ report. Risks include deepfakes, sophisticated cyber hacks, and the use of generative AI to create malware.
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