Fintech News

APRIL 7, 2024

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. Economic Ramifications of Deepfake Scams The global impact of impersonation scams can be far-reaching, and expensive. ” says Wells.

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Deepfake Scams Fraud Detection Verification 124

The Fintech Times

FEBRUARY 9, 2024

Easily accessible and criminally weaponised generative AI tools are increasing the need for more secure remote identity verification. It saw a 672 per cent increase from H1 2023 to H2 2023 in the use of deepfake media such as face swaps deployed alongside metadata spoofing tools.

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Deepfake Product Verification AI 108

The Fintech Times

AUGUST 14, 2024

In the wrong hands, however, it can be incredibly harmful, especially with the emergence of deepfakes. A new survey from iProov , the biometric solutions provider, has revealed the attitudes on the threat of generative AI and deepfakes across the UK, US, Brazil, Australia, New Zealand and Singapore.

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Deepfake AI Phishing Ransomware 73

The Paypers

NOVEMBER 4, 2024

Regula , a worldwide developer of forensic devices and identity verification solutions, has released its new survey which underlines the financial impact of deepfake fraud.

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Deepfake Verification 36

The Fintech Times

MAY 17, 2024

The rapidly increasing prevalence of AI-generated content and deepfakes has left many questioning everything they see online. In fact, as much as 72 per cent of consumers worry on a day-to-day basis about being fooled by a deepfake into handing over sensitive information or money.

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Deepfake Identity Theft Consumer Verification 67

The Paypers

NOVEMBER 14, 2024

US-based identity platform Persona has partnered with Okta to deliver an automated identity verification solution and support organisations to safeguard against phishing and deepfakes.

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Deepfake Phishing Verification Security 68

PYMNTS

DECEMBER 5, 2019

The rise of deepfakes — the eerily lifelike impersonations that superimpose heads onto bodies and bodies onto heads in seamless ways that integrate speech and movement, where nothing is as it seems — may be good for a laugh. From Arnold Schwarzenegger, to Kim Kardashian, to maybe, just maybe: You. It’s like a Hollywood special effect.”.

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Deepfake Verification AI Authentication 55

The Payments Association

OCTOBER 25, 2023

Sumsub, a full-cycle verification platform, today releases its “State of Verification and Monitoring in the Crypto Industry 2023” report. The findings focus.

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Deepfake Verification Digital Currency 88

Fintech News

FEBRUARY 18, 2024

But with innovation comes risk – especially around identity verification and fraud prevention. By implementing Sumsub’s no-code identity verification platform, dtcpay simplified Know Your Client (KYC) and onboarding to provide a smooth, secure user experience. Singapore is one of the world’s leading hubs for fintech innovation.

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Verification Travel Rule Multi-Currency Compliance 112

The Payments Association

NOVEMBER 1, 2023

Sumsub, a full-cycle verification platform, releases its 'State of Verification and Monitoring in the Crypto Industry 2023' report.

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Deepfake Verification Regulations Security 88

The Paypers

MAY 1, 2023

Forensic devices and identity verification solutions provider Regula has issued a survey showcasing that AI-generated identity fraud like deepfakes affects a third of businesses.

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Deepfake Verification AI 41

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.

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Deepfake Fraud Prevention Verification Returns 52

Finovate

MARCH 13, 2024

Verification provider Sumsub announced a partnership with blockchain data platform Chainalysis this week. Full-cycle verification provider and FinovateEurope alum Sumsub announced an integration with blockchain data platform Chainalysis this week. Sumsub made its Finovate debut at FinovateEurope 2020 in Berlin, Germany.

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Verification Blockchain Travel Rule Regulatory Compliance 59

The Fintech Times

OCTOBER 31, 2024

LSEG Risk Intelligence is launching Global Account Verification, which checks payee and account details match before transfers are confirmed, as well as Document and Biometric Verification, which uses AI and deep learning to accurately conduct identity checks.

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Mitigation Risk Global Payments Deepfake 57

PYMNTS

JANUARY 8, 2020

The House’s Subcommittee on Consumer Protection and Commerce heard digital experts, as well as a representative from Facebook, testify in regards to the measures tech firms are using to fight against deepfakes, and what further actions should occur at the federal level, CNBC reported Wednesday (Jan. Chairwoman Jan Schakowsky, D-Ill.,

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Deepfake Consumer Protection Cybersecurity Verification 57

The Fintech Times

MAY 16, 2024

Banks are coming under an increasingly intense barrage of cybersecurity attacks, and many of these now use deepfakes and generative AI to make the initial breach. Firms continuing to use dated means of verification and user authentication could pay if they do not make changes.

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Deepfake Security Cybersecurity Procedures 67

The Fintech Times

SEPTEMBER 11, 2024

AU10TIX, a company specialising in identity verification and management, also reveals significant vulnerabilities in the Asia-Pacific (APAC) region, where financial-related identity fraud has been escalating. Bots and deepfakes The rise of bots using deepfake technology to create convincing fake profiles poses an additional challenge.

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Bots Deepfake Automation APACS 57

The Paypers

AUGUST 9, 2024

Socure , a digital identity verification AI provider, has introduced Selfie Reverification, a solution for online customers to validate their identity.

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Deepfake Verification AI 36

Finovate

JUNE 11, 2024

An injection attack occurs when a fraudster injects a deepfake– which could be a synthetic document, video, facial image, or audio representation– into an identity verification workflow to spoof the system. This works to bypass traditional fraud detection and identity verification methods.

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AI Fraud Detection Deepfake Verification 105

Fintech News

JULY 10, 2024

Sumsub, a global verification provider, has announced strategic partnerships with several resellers in Southeast Asia including Nexus Technologies in the Philippines, PT Secure Pasifik Teknologi in Indonesia, and Spectrum Edge in Malaysia.

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Identity Theft APACS Deepfake Money Laundering 93

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 107

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. Fraud networks, however small they may seem right now, will gain prominence, just like AI-powered deepfakes. said Pavel Goldman-Kalaydin, Head of AI/ML at Sumsub.

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APACS Fraud Prevention Deepfake Account Takeovers 97

The Paypers

APRIL 10, 2024

Payments, identities, and data company Entrust has completed its acquisition of Onfido , an identity verification company, to combat deepfakes and AI-powered cyber attacks.

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Deepfake Verification AI Payments 45

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. Digital identity verification innovator Socure has unveiled its Selfie Reverification solution.

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Credential FinTech Deepfake Fraud Detection 64

Finovate

AUGUST 15, 2024

Corsound AI Corsound AI enhances security against voice fraud with patented voice-to-face technology and deepfake detection, backed by over 200 autonomous AI patents. Banks, credit unions, identity verification companies, and more. CSS CSS introduces IMPACT 3.0,

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Deepfake Credit Union Payment APIs and Integration AI 59

Fintech News

JANUARY 17, 2024

Banks need advanced identity verification and authentication techniques to counter synthetic fraud, including document verification, identity graph analysis, and behavioural biometrics. The menace of deepfakes and disinformation The exponential growth of APAC’s digital economy also enables new disinformation threats.

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Deepfake APACS Scams Authentication 115

Finovate

SEPTEMBER 24, 2024

As the first major investment for the company, the capital will help accelerate the development of Illuma’s voice verification offerings to help banks and other institutions fight fraud, voice cloning, deep fakes, and more. Headquartered in Plano, Texas, and founded in 2016, Illuma Labs made its Finovate debut at FinovateSpring 2019.

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Credit Union Deepfake Authentication Fraud Prevention 59

Fintech News

MARCH 12, 2024

Sumsub, a global verification provider, has integrated with Chainalysis, a blockchain data platform. This trend is underscored by Sumsub’s reports, which note a 128 percent increase in deepfake incidents in 2023, with the Asia-Pacific region experiencing a 1530 percent surge.

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Transactions Security Deepfake Travel Rule 106

Finovate

OCTOBER 3, 2024

Identity verification solution and infrastructure company IDVerse announced a partnership with Hastings Direct Loans. based lender will leverage IDVerse’s technology to enhance the accuracy and reliability of its identity verification process. IDVerse, as OCR Labs, won Best of Show at FinovateAsia in 2017.

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Verification Deepfake Fraud Prevention User Authentication 59

Fintech News

JUNE 6, 2024

The Jumio 2024 Online Identity Survey reveals that 85% of Singaporean consumers are willing to spend more time on identity verification measures when accessing financial services accounts to improve security. The benefits of digital identity verification extend beyond just enhanced security.

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Scams Phishing Deepfake Verification 98

The Fintech Times

DECEMBER 15, 2023

Sumsub , a global full-cycle verification platform, has officially become a member of the Singapore FinTech Association (SFA). The report addresses identity fraud across industries and regions based on millions of verification checks across 28 industries and over 2,000,000 fraud cases between 2022-2023.

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Innovation FinTech Deepfake APACS 57

The Fintech Times

FEBRUARY 23, 2024

IDnow , the identity verification platform provider, has revealed that there is a massive gap in UK consumer knowledge when it comes to key tactics used by fraudsters. Developments in generative artificial intelligence (AI) mean deepfake technology can now be used to create hyper-realistic fake documents. Not to mention videos too.

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Deepfake Continuity Risk Smishing 67

Fintech News

MARCH 26, 2024

Sumsub, a global verification and compliance provider, announced its partnership with crypto exchange Binance to integrate its Travel Rule solutio n through the Global Travel Rule (GTR) Alliance.

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Travel Rule Rules Compliance Transactions 111

The Paypers

JUNE 5, 2023

Security and transaction monitoring solutions provider Sumsub has shared fraud data statics for North America which showcase an increase in forced verification and deepfakes.

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Deepfake Verification Transactions Security 36

Fi911

OCTOBER 11, 2023

This advanced solution is also known as “anti-spoofing” or “liveness verification.” Liveness detection is a pivotal security feature in different authentication processes, including biometric verification. This combined approach enhances the precision of verification, making it a potent tool against deceptive authentication efforts.

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Deepfake Verification Authentication Breach 52

Finovate

MAY 16, 2024

Digital identity verification innovator Socure announced a partnership with identity-secured transactions company Proof. A new partnership between digital identity verification innovator Socure and identity-secured transactions company Proof will bring new tools to the fight against fraud and forgery in authorizations, contracts, and forms.

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Authorization Verification OFAC Deepfake 59

The Fintech Times

MAY 12, 2024

Emerging technology such as AI has enabled threat actors to take a sophisticated approach to fraud, with global full-cycle identity verification platform, Sumsub , revealing a 10x increase in the number of deepfakes detected worldwide from 2022 to 2023.

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Financial Crimes Crime Money Laundering Deepfake 67