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

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

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 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 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

Seon

JUNE 7, 2024

Other AI applications include enhancements to traditional scams, such as phishing and social engineering attacks. Limitations of Traditional Methods & Approaches The surge in digital activities underscores the urgency of implementing effective fraud prevention measures.

AI 52

AI Innovation Fraud Prevention Fraud Detection 52

Seon

SEPTEMBER 28, 2023

Verizon Business estimates that 74% of data breaches are down to individuals being absent-minded or tricked by social engineering attacks such as phishing emails. Reduce Fraud Rates by 70–99% Partner with SEON to reduce fraud in your business with real-time data enrichment, whitebox machine learning, and advanced APIs.

Security 52

Security Phishing Best Practices Data Breach 52

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.

Checks 52

Checks Security Fincen Payer 52

Fintech News

APRIL 9, 2025

Inside APACs Identity Fraud Trends: From Tutorials to Industrialised Fraud For example, many beginner fraudsters turn to dark web forums, fraudster communities, or private chats to learn the basics of hacking, phishing, or financial fraud. Learn more and download the full Sumsub 2024 APAC Identity Fraud Report here.

APACS 94

APACS Deepfake Identity Theft Account Takeovers 94

The Payments Association

DECEMBER 10, 2024

With payment systems becoming more digital and interconnected, the risk of AI-driven fraud grows, urging payments firms to adopt cutting-edge solutions to protect themselves and their customers from these emerging threats.

AI 88

AI Fraud Detection Deepfake Fraud Prevention 88

The Fintech Times

MARCH 14, 2025

With tools like deepfake identity generators, fake KYC documents, and automated phishing scams, cybercriminals are launching sophisticated attacks at scale. Fraud prevention is an arms race, he said. If we dont use AI to fight fraud, were already losing. Her words landed with weight.

FinTech 59

FinTech Consumer Financial Protection Bureau (CFPB) Fraud Detection AI 59