The Fintech Times

FEBRUARY 3, 2025

Identity fraud rates reached 2.1 per cent of transactions in 2024, with fraudsters increasingly leveraging artificial intelligence tools to target financial institutions, according to new research from AuthenticID, an identity verification provider. Account takeover scams saw a dramatic increase of 250 per cent last year.

Deepfake 81

Deepfake Account Takeovers Identity Theft Verification 81

Fintech News

JANUARY 17, 2024

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

Deepfake 122

Deepfake APACS Scams Authentication 122

Fintech News

JUNE 6, 2024

Recent phishing and fraudulent cases involving multiple banks in Singapore have highlighted the severity of this issue and the urgent need for banks to enhance their security measures. DBS isn’t the only bank making news for phishing scams. US$129,841).

Scams 107

Scams Phishing Deepfake Verification 107

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

In fact, 71 per cent of respondents named it as the number one issue, particularly in automated attacks and deepfake technologies. Seventy-three per cent of respondents expect an uptick in these types of fraud: phishing, synthetic fraud, identity theft, account takeovers (ATO) and money-laundering.

AI 59

AI Fraud Prevention Identity Theft Account Takeovers 59

Seon

JUNE 27, 2024

AI’s capabilities, like machine learning algorithms, are being trained to identify and exploit vulnerabilities, automate phishing attacks and bypass traditional security measures. AI can generate synthetic identities, create deepfakes and lead other persuasive and difficult-to-detect social engineering tactics.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

The Fintech Times

JANUARY 17, 2024

Risks include deepfakes, sophisticated cyber hacks, and the use of generative AI to create malware. AI: Fighting the emerging threat Two-thirds (66 per cent) of financial industry respondents think the use of AI by fraudsters and other criminals poses a growing cybersecurity threat.

AI 59

AI Financial Crimes Crime Security 59