Neopay

JANUARY 22, 2025

According to a recent report by the National Crime Agency (NCA), GenAI represents one of the most substantial threats to the fraud landscape today. Fraudsters are exploiting GenAI tools such as large language models (LLMs), voice cloning, and deepfakes to carry out increasingly sophisticated scams that are harder to detect and prevent.

AI 59

AI Deepfake Phishing Audit 59

Neopay

FEBRUARY 27, 2025

The financial sector is facing an unprecedented surge in AI-driven fraud, with deepfake-related attacks increasing by a staggering 2,137% over the past three years. of all fraud attempts detected in the financial sector now involve AI-generated forgeries, with deepfakes leading the charge.

Deepfake 52

Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

Fintech News

MARCH 20, 2024

Sumsub, a global verification provider, is addressing the sharp increase in fraud networks in the Asia-Pacific (APAC) region with its enhanced Fraud Prevention Solution. This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks.

APACS 105

APACS Fraud Prevention Deepfake Account Takeovers 105

The Fintech Times

JUNE 2, 2024

Fraud prevention decision-makers across Europe are well aware of the growth and danger of AI-driven identity and financial fraud, but are unprepared to combat it, Signicat , the European digital identity and fraud prevention solution provider, has revealed in a new report.

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AI Fraud Prevention Account Takeovers Deepfake 126

Seon

MAY 23, 2024

across age groups and income brackets, the volume of digital activities and transactions are on the rise – and effective fraud prevention measures have never been more critical to safeguard a business’s bottom line. The rise of deepfake technology presents another significant threat to biometric authentication systems.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

Finovate

DECEMBER 11, 2024

LexisNexis Risk Solutions has signed an agreement to acquire document authentication and fraud detection solutions provider IDVerse. The acquisition will enhance LexisNexis Risk Solutions’ ability to combat emerging threats such as AI-generated fraud and deepfakes. Terms were not disclosed.

Risk 52

Risk Acquirers Deepfake Fraud Detection 52

The Fintech Times

DECEMBER 19, 2024

. “With increasingly sophisticated fraud tactics on the uptick, organisations must prepare for stricter AI and compliance rules. Proactive fraud prevention today not only mitigates risk, but also future-proofs operations against costly penalties.”

Automation 59

Automation AI Fraud Prevention Deepfake 59

Fintech News

JULY 10, 2024

These partnerships aim to enhance fraud prevention efforts and strengthen the business environment in the region. Sumsub reports significant increases in fraud, particularly in deepfakes, across the Philippines, Indonesia, and Malaysia.

Identity Theft 102

Identity Theft APACS Deepfake Money Laundering 102

Fintech Finance

MARCH 4, 2025

Both financial institutions and regulators have put fraud prevention and detection in the forefront for 2025. Fraud was ranked as one of the top three priorities for 2025 among payment organisations surveyed in Vixios 2025 Payments Compliance Outlook.

Fraud Prevention 52

Fraud Prevention Deepfake Scams Fraud Detection 52

The Payments Association

OCTOBER 22, 2024

According to the Payment Systems Regulator (PSR) , the volume of APP fraud cases rose by 12% last year. 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.

Rules 88

Rules Fraud Prevention Caps Deepfake 88

Fintech News

FEBRUARY 19, 2025

It also detects fraudulent submissions using liveness detection and AI-powered fraud prevention tools. IDVerse’s self-learning AI will contribute to more efficient and faster fraud detection model updates and improved accuracy in identity verification.

Risk 70

Risk Deepfake Fraud Detection Fraud Prevention 70

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?

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Deepfake PCI DSS Verification Financial Inclusion 126

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.

Deepfake 52

Deepfake Fraud Prevention Verification Returns 52

The Payments Association

MARCH 10, 2025

Visa and Mastercard track MCCs for chargeback monitoring and fraud prevention. Example: A luxury watch retailer (MCC 5094Precious Stones & Jewelry) faces higher fraud risks than a grocery store (MCC 5411Supermarkets). If stuck with a high-risk MCC, use fraud prevention and chargeback reduction tools.

Fraud Prevention 88

Fraud Prevention Processors Disputes Compliance 88

Fintech News

JUNE 6, 2024

Strengthening Defences: Banks’ Strategies to Combat Scams and Fraud To combat this growing threat, banks in ASEAN are implementing a range of measures to strengthen their defences against scams and fraud. Malicious actors can now create highly convincing videos, images, or audio recordings with these tools.

Scams 105

Scams Phishing Deepfake Verification 105

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.

Continuity 69

Continuity Deepfake Risk Smishing 69

The Payments Association

OCTOBER 21, 2024

With a wealth of AI and deepfake technology at their fingertips, even the most novice of criminals can perpetrate sophisticated fraud. As Ben Agnew, CEO of The Payments Association, recently wrote in a blog for Cifas , APP fraud shows no signs of slowing down—it has grown by 12% in both value and volume annually.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

The Fintech Times

MARCH 6, 2024

However, bad actors have also been able to abuse the tech, and in 2024, 87 per cent of industry experts have acknowledged the tech could be used to drive fraud attempts according to a new SEON report. Some of these challenges include volume, cost, and complexities of fraud.

AI 59

AI Fraud Prevention Identity Theft Account Takeovers 59

The Payments Association

APRIL 7, 2025

Key findings reveal that fraud remains the foremost concern, with identity fraud being the most common type encountered. The survey also highlights the growing investment in technologies such as AI and machine learning for fraud prevention, as well as the importance of industry collaboration and regulatory updates.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention AML 88

The Fintech Times

OCTOBER 31, 2024

LSEG Risk Intelligence , the compliance, risk management and fraud prevention solution provider, has launched two new products designed to enhance financial security and drive operational efficiencies across the globe. In the near-future, coverage of GAV will expand to 80 per cent of G20 countries.

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Mitigation Risk Global Payments Deepfake 59

Seon

SEPTEMBER 20, 2024

SEON recently brought together industry leaders from the online lending space to discuss the evolving landscape of fraud prevention and risk management. The Changing Face of Fraud In what many describe as an “unpredictable era,” lenders are collectively challenged to stay ahead of increasingly sophisticated fraudsters.

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Risk Fraud Prevention Risk Management Deepfake 52

Fintech Finance

FEBRUARY 20, 2025

The move comes as Deloittes Center for Financial Services warns that fraud losses driven by generative AI could reach $40 billion in the US alone by 2027. The rising sophistication of AI-generated deepfake images and videos poses an increasing risk to the payments industry, making advanced fraud detection more critical than ever.

AI 52

AI Deepfake Verification Fraud Detection 52

Finovate

SEPTEMBER 24, 2024

“While we are excited about the capital infusion to accelerate our development of fraud prevention and deep fake detection tools, we are equally excited about bringing in new partners to fuel Illuma’s continued commercial growth,” Illuma Co-Founder and CEO Milind Borkar said.

Credit Union 59

Credit Union Deepfake Authentication Fraud Prevention 59

Fintech News

FEBRUARY 18, 2024

But with innovation comes risk – especially around identity verification and fraud prevention. This includes the development of proprietary technologies such as workflow builders, liveness and deepfake detection, and mechanisms to adhere to the travel rule.

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Verification Travel Rule Multi-Currency Compliance 117

Fintech Finance

FEBRUARY 29, 2024

Socure , the leading provider of artificial intelligence for digital identity verification, sanction screening and fraud prevention, and Trustly , a leading global Open Banking payments provider, today announced an industry-first partnership to offer merchants and fintechs a streamlined onboarding and guaranteed Pay by Bank solution.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

Finovate

AUGUST 14, 2024

The battle against fraud is a never-ending one. From the challenge of AI-powered deepfakes to the sad fact that many of our own bad habits continue to keep fraudsters in business, fintechs are busy developing solutions to help us get and stay at least one step ahead of the bad guys. Johnny Ayers is Socure’s founder and CEO.

Credential 64

Credential FinTech Deepfake Fraud Detection 64

Finovate

SEPTEMBER 18, 2024

Available via API, SDK, or through the Salesforce App Exchange, ID-Pal’s technology detects AI-generated documents, deepfakes, and injection attacks, providing advanced fraud detection without requiring direct access to customer data.

Fraud Detection 64

Fraud Detection Verification Payment APIs and Integration OFAC 64

Seon

JUNE 7, 2024

Add in the emergence of deepfake technologies that allow fraudsters to impersonate individuals through manipulated videos or audio, adding an extra layer of authenticity to deceitful tactics, and the landscape of fraud becomes even more difficult to parse. million for a purported new headquarters building in an email scam.

AI 52

AI Innovation Fraud Prevention Fraud Detection 52

The Fintech Times

AUGUST 13, 2024

Fraudsters are leveraging artificial intelligence (AI) tools like voice cloning and deepfakes to create highly convincing fake audio or video messages to deceive victims into transferring money or revealing sensitive information. This leaves many vulnerable to sophisticated AI-powered attacks like deepfakes and voice cloning.

AI 59

AI Fraud Detection Fraud Prevention Phishing 59

Finovate

OCTOBER 3, 2024

More recently, the company has forged partnerships with data and compliance infrastructure company Prembly , age and identity verification solutions provider Veratad Technologies , and identity verification and fraud prevention specialist TrustID.

Verification 59

Verification Deepfake Fraud Prevention User Authentication 59

BioCatch

SEPTEMBER 18, 2024

Whether through phishing emails and text messages or social media, the biggest cyber threat facing banking customers today is the rise of sophisticated social engineering frauds. No matter where you live, scammers will come for you.

Phishing 40

Phishing Deepfake Scams Security 40

Seon

JUNE 1, 2023

Regardless of the number and types of security features chosen by an organization wishing to utilize high-security checks, their purposes are as follows: to deter fraudsters, reduce fraud, and protect the financial interests of the check payer and payee. Features of High-Security Checks High-security checks have a variety of features.

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Checks Security Fincen Payer 52

PYMNTS

DECEMBER 17, 2019

Kopp is particularly concerned about the rise of synthetic identities , deepfakes and data breaches, as these new hacking measures have been unsettlingly successful in a number of recent cases. N26 partnered with San Diego-based Axos Bank to do business in the U.S., Internet villains are watching closely and working furiously. or anywhere.

Online and Mobile Banking 52

Online and Mobile Banking Deepfake AML Data Breach 52

Seon

SEPTEMBER 28, 2023

Anti-fraud measures : Dedicated approaches to combate fincrime, such as fraud prevention solutions like SEON. Future security measures, such as generative AI and deepfake detection – particularly given that biometric authentication will become increasingly challenged by AI-focused fraudsters in the years to come.

Security 52

Security Phishing Best Practices Data Breach 52

Fintech News

OCTOBER 28, 2024

Fighting deepfakes and fraudulent identities – Jumio’s holistic approach to building identity trust” with “Jumio Delivers Adaptive Verification as AI Fraud Projected to Hit US$40 Billion. Hong Kong police recently arrested 27 individuals linked to a deepfake scam that swindled victims out of $46 million.

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Verification Deepfake AI Identity Theft 116

The Fintech Times

NOVEMBER 19, 2024

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.

Deepfake 64

Deepfake APACS Account Takeovers Identity Theft 64

Fintech News

DECEMBER 15, 2024

Since the pandemic, fraud and scams have surged significantly, with mature markets like Singapore and Hong Kong facing increasingly complex challenges, including authorised push payment fraud and deepfakes.

Scams 111

Scams Deepfake Fraud Prevention Risk 111