The Fintech Times

FEBRUARY 3, 2025

Account takeover scams saw a dramatic increase of 250 per cent last year. Victims of these scams not only face financial losses, averaging about $180 per incident, but 40 per cent also suffer from subsequent identity theft. The use of deepfake technology and generative AI is also on the rise, compounding the threat range.

Deepfake 81

Deepfake Account Takeovers Identity Theft Scams 81

Fintech News

JUNE 6, 2024

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 109

Scams Phishing Deepfake Verification 109

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.

Deepfake 69

Deepfake Phishing Account Takeovers Scams 69

Fintech News

MARCH 20, 2024

This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks. 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.

APACS 109

APACS Fraud Prevention Deepfake Account Takeovers 109

The Fintech Times

MAY 8, 2025

According to the report, 44 per cent of financial professionals report that fraudelent schemes use deepfakes , and 56 per cent of professionals cite social engineering, a set of manipulative tactics used by fraudsters to exploit human psychology and trick individuals into revealing sensitive information, as another significant tactic powered by AI.

AI 61

AI Deepfake Scams Financial Crimes 61