Fintech News

MAY 8, 2025

The surge of deepfakes The rise of AI has also led to a surge in deepfake attacks. These advanced impersonations, which use convincing AI-generated audio and video, trick users into revealing multi-factor authentication (MFA) codes or approving unauthorized authentication requests. billion) in 2024 alone. million in 2024, up 7.8%

Data Breach 118

Data Breach Deepfake MFA Phishing 118

The Payments Association

DECEMBER 10, 2024

Understanding AI-enabled fraud As fraudsters invest in more sophisticated technology, including deepfakes, synthetic identities and automated phishing, the need for payments firms to adopt better AI-driven fraud detection systems grows. fingerprints, facial recognition), and behavioural biometrics (e.g.,

AI 88

AI Fraud Detection Fraud Prevention Deepfake 88

Fintech News

MARCH 19, 2024

This follows Accredify’s US$7 million funding round in April 2023, co-led by iGlobe Partners and SIG Venture Capital with additional support from Pavilion Capital and Qualgro.

MFA 109

MFA Deepfake Credential Use Case 109

The Payments Association

APRIL 7, 2025

In 2023, the most prevalent types of fraud included identity fraud, facility takeovers, and misuse of facilities, reflecting the persistent and evolving nature of these threats. The existing technical mechanisms, like MFA and biometrics, will not be able to prevent this type of fraud.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention AML 88

Seon

SEPTEMBER 28, 2023

Password management : Using multi-factor authentication (MFA) and password managers. Future security measures, such as generative AI and deepfake detection – particularly given that biometric authentication will become increasingly challenged by AI-focused fraudsters in the years to come.

Security 52

Security Phishing Best Practices Data Breach 52