The Payments Association

DECEMBER 9, 2024

Cohn believes regulation will impose stricter requirements for organisations to assess and mitigate the potential for algorithmic bias in AI-powered payment systems. The potential for misuse of AI in creating deepfakes or facilitating fraud adds another layer of ethical complexity.

Privacy 88

Privacy Payment Security AI Security 88

The Paypers

MARCH 11, 2025

AuthID has published a whitepaper examining the growing risks posed by deepfake technology in digital authentication and outlining strategies to mitigate these threats.

Deepfake 36

Deepfake Authentication Mitigation Risk 36

Fintech News

JUNE 6, 2024

Frederic Ho, VP, Asia Pacific, Jumio “However, with the rise of advanced deepfake and face-swapping technologies, relying solely on biometric identity verification is no longer adequate. Malicious actors can now create highly convincing videos, images, or audio recordings with these tools.

Scams 107

Scams Phishing Deepfake Verification 107

The Payments Association

OCTOBER 22, 2024

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. Mitigating APP fraud While refunds provide some level of protection for individuals, they are perceived as a constant burden for financial institutions.

Rules 88

Rules Fraud Prevention Caps Deepfake 88

The Fintech Times

DECEMBER 19, 2024

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

Automation 59

Automation AI Fraud Prevention Deepfake 59

Finovate

AUGUST 14, 2024

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. The battle against fraud is a never-ending one. “Identity verification isn’t a one-time event.

Credential 64

Credential FinTech Deepfake Fraud Detection 64

The Payments Association

OCTOBER 21, 2024

Collaboration between regulators, law enforcement, and the counter-fraud community is needed to ensure the effectiveness of the reimbursement scheme and to mitigate emerging fraud risks. With a wealth of AI and deepfake technology at their fingertips, even the most novice of criminals can perpetrate sophisticated fraud.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

PYMNTS

SEPTEMBER 9, 2019

Though the tactic is unusual, cybersecurity experts warn the strategy could signal an increasing use of so-called “deepfake” technology to infiltrate systems and steal company cash. In response, Agari said solution providers must evolve their technologies to mitigate this risk even after cybercriminals have infiltrated a supply chain.

Cybersecurity 72

Cybersecurity Email Compromise Deepfake Crime 72

Seon

MAY 23, 2024

What was heralded as high security due to a reliance on unique biological characteristics is now facing challenges from emerging fraud technologies such as spoofing and deepfakes. The rise of deepfake technology presents another significant threat to biometric authentication systems. Take proactive steps to ensure business continuity.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

Fintech Finance

FEBRUARY 29, 2024

Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment. Socure’s predictive machine learning models coupled with Trustly’s Open Banking authentication and data mitigate these emerging risks.

Fraud Prevention 52

Fraud Prevention Process FinTech Online and Mobile Banking 52

The Fintech Times

MAY 24, 2024

The urgency to manage AI-related identity risks, including deepfakes , is low in the UK with around one third (35 per cent) already having a strategy in place to manage threats of this nature. This was the lowest rate of confidence felt globally compared to 48 per cent of U.S. respondents saying the same.

Authentication 59

Authentication MFA Deepfake AI 59

Fi911

OCTOBER 11, 2023

The system can discern real individuals from static visuals, or people using deepfake technology to impersonate another user. Benefits of Liveness Detection The dawn of deepfakes and sophisticated spoofing has necessitated advanced countermeasures. This is where liveness detection truly shines.

Deepfake 52

Deepfake Verification Authentication Breach 52

Seon

JUNE 27, 2024

Both fields are defined by their abilities to predict, prevent and mitigate risks. AI can generate synthetic identities, create deepfakes and lead other persuasive and difficult-to-detect social engineering tactics. It necessitates a proactive and forward-thinking approach to anticipating and mitigating future threats.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

Seon

SEPTEMBER 20, 2024

For instance, fraudsters now leverage innovative technologies to create deepfakes, bypassing traditional identity verification methods like document ID checks and biometrics. Lenders are now focusing on alternative data signals to mitigate risk without excluding valuable customers.

Risk 52

Risk Fraud Prevention Risk Management Deepfake 52

Segpay

JANUARY 30, 2025

Source: Telefonica AI companies are often classified high-risk for several reasons: Potential for Misuse: Generative AI, a subset of AI that creates content such as text, images, or videos, includes the ability to generate deepfakes, counterfeit documents, or misleading content poses ethical and legal concerns.

Merchant Payment Processing 52

Merchant Payment Processing Processors AI Process 52

PYMNTS

SEPTEMBER 12, 2019

Nicolas Dinh, chief operating officer at payment app startup STACK, spoke with PYMNTS about how synthetic IDs are a major threat and how FIs can mitigate risk. Hackers can use falsified videos to challenge today’s liveness tests, so companies need to keep improving their detection methods to stop deepfakes and other new types of fraud.

Procedures 46

Procedures Cryptocurrency Regulations AML 46

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

The Fintech Times

FEBRUARY 12, 2025

“I could spot an AI deepfake easily.” Both US and UK consumers were tested, being told to examine a variety of deepfake content, including images and videos. “And even when people do suspect a deepfake, our research tells us that the vast majority of people take no action at all.

Deepfake 59

Deepfake Authentication Verification AI 59

Fintech News

APRIL 9, 2025

The scalability offered by FaaS models further amplifies the issue, enabling fraudsters to launch a higher volume of attacks and making it even more difficult for businesses to detect, prevent, and mitigate fraud effectively.

APACS 102

APACS Deepfake Identity Theft Account Takeovers 102

Fintech Finance

JANUARY 29, 2025

Fraud rates have taken off globally, particularly in Europe, where deepfake fraud incidents have risen by 142% between 2023 and 2024. Sumsubs internal data shows that deepfakes are present in 7% of all fraud cases globally.

Deepfake 73

Deepfake Transactions Verification Payments 73

The Payments Association

MARCH 20, 2025

Criminals are becoming increasingly sophisticated, employing tactics such as generating fake IDs, using deepfake images and video, and mimicking human movements to deceive detection systems, says Roussel. Jimmy Roussel, COO at ID verification provider IDScan. net, says criminals have seized upon AI to take their schemes to the next level.

Financial Crimes 88

Financial Crimes Crime Deepfake Best Practices 88

The Payments Association

DECEMBER 10, 2024

Fraudsters are continuously finding new sophisticated ways of leveraging AI to carry out cyber threats, with traditional fraud prevention methods, which rely on fixed rules and human intervention, being no longer sufficient to detect and mitigate the complex and evolving tactics used by fraudsters.

AI 88

AI Fraud Detection Deepfake Fraud Prevention 88

Evolve Payment

FEBRUARY 17, 2025

This type of reserve helps mitigate chargeback risks while ensuring a steady cash flow over time. The team at Evolve Payment works with several different processing partners, as well as multiple credit and risk departments, to find a solution for our customers to mitigate this underwriting requirement.

Accounts 52

Accounts Processors Risk Caps 52