Fintech News

JANUARY 17, 2024

Sophisticated scams dominate the fraud landscape BioCatch’s report uncovers a startling surge in financial cybercrime in Asia-Pacific. With scams accounting for 54 percent of all cases, there’s a 200 percent increase in voice scams from the previous year.

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Deepfake APACS Scams Authentication 125

The Fintech Times

NOVEMBER 20, 2024

In its sixth edition, the 2025 Identity Fraud Report found that attacks involving deepfakes happened every five minutes in 2024, and digital document forgeries increased by 244 per cent year over year. Another way fraudsters are abusing financial firms is through AI-assisted deepfakes. per cent in 2023 to 9.5 per cent in 2024.

Deepfake 69

Deepfake Phishing Account Takeovers Scams 69

The Payments Association

OCTOBER 21, 2024

The UK’s increasing fraud and scam problem, focusing on new regulations mandating automatic reimbursement for APP fraud victims. The UK’s fraud and scams problem is not going away. In 2023 alone, UK consumers lost a staggering £460 million to authorised push payment (APP) fraud. What is this article about?

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Scams Law Enforcement Crime Fraud Prevention 88

Fintech News

DECEMBER 10, 2023

Getting a grip on identity fraud Sumsub Growing prevalence of AI-driven deepfakes, digital forgeries and identity ‘spoofing’ to obtain valuable personal and business data is impacting industries across the board.

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Fintech News

MARCH 20, 2024

Research by Sumsub shows that one in every 100 users of digital platforms globally became a victim of fraud ring activities in 2023. In Myanmar and other Southeast Asian countries, cyber scam rings target victims with fraudulent schemes like fake jobs or investments. said Vyacheslav Zholudev, CTO and co-founder of Sumsub.

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APACS Fraud Prevention Deepfake Account Takeovers 109

Fintech News

JUNE 18, 2024

Another ethical concern outlined in the report is the potential of gen AI to produce convincing deepfake content, which can lead to misinformation. Furthermore, gen AI may be used for malicious purposes, and may amplify the scale, speed and sophistication of cyberattacks and scams.

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AI Use Case Risk Deepfake 120

The Fintech Times

SEPTEMBER 11, 2024

Between 2022 and 2023, fraud in the region increased by 24 per cent, driven by large-scale attacks, including a targeted onboarding attack involving over 5,000 fraudulent attempts in Q2 2024. 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 59

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. As deepfakes proliferate, a trickle of lawsuits has the potential to become a flood – and one which absolutely could sink the banks. Michael Marcotte, CEO of artius.iD

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Deepfake Security Cybersecurity Procedures 69

Fintech News

FEBRUARY 10, 2025

From high-profile ransomware attacks and terrorist financing to scams that wiped out millions in savings, global crypto crime has become an urgent concern. Adjusted figures from 2023 later revealed a massive upward revision of 69%, indicating that current 2024 estimates will likely follow the same trajectory.

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Crime Ransomware Scams Phishing 92

Fintech News

DECEMBER 15, 2024

Since the pandemic, fraud and scams have surged significantly, with mature markets like Singapore and Hong Kong facing increasingly complex challenges, including authorised push payment fraud and deepfakes. In countries like Cambodia, Laos and Myanmar, organised criminal groups, primarily from China, operate cyber scam centres.

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Scams Deepfake Fraud Prevention Risk 113