Remove Deepfake Remove Identity Theft Remove Scams
article thumbnail

Taking the Preemptive Strike to Thwart Rising Scams and Fraud in ASEAN Banking

Fintech News

In recent years, the banking sector in the Association of Southeast Asian Nations (ASEAN) has witnessed a significant surge in scams and fraud activities. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59 Losses exceeded S$13 million (US$9.59

Scams 105
article thumbnail

The Shifting Landscape of Fraud and Identity in 2024

Fintech News

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 123
article thumbnail

FinovateEurope 2024 Sneak Peek Series: Part 4

Finovate

Corsound AI Corsound AI utilizes innovative technology to verify customers’ identities for financial institutions, leveraging over 200 patents to detect AI scams and voice fraud. Banks, credit unions, payment providers, and small-and-medium-sized businesses.

article thumbnail

Balancing AI’s Benefits and Threats Across Fraud and Cybersecurity

Seon

How can the technology driving novel and increasingly sophisticated fraud activities be harnessed to combat scams and cyber risks cost-efficient and effectively? AI can generate synthetic identities, create deepfakes and lead other persuasive and difficult-to-detect social engineering tactics.

article thumbnail

8 in 10 Financial Firms Investing in Security to Protect Them From Emerging AI Fraud Threats

The Fintech Times

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
article thumbnail

Jumio Delivers Adaptive Verification as AI Fraud Projected to Hit US$40 Billion

Fintech News

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.