The Fintech Times

JUNE 2, 2024

Fraud prevention decision-makers across Europe are well aware of the growth and danger of AI-driven identity and financial fraud, but are unprepared to combat it, Signicat , the European digital identity and fraud prevention solution provider, has revealed in a new report.

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AI Fraud Prevention Account Takeovers Deepfake 126

The Fintech Times

DECEMBER 19, 2024

Invoice automation firm, Basware has revealed that 90 per cent of organisations lack dedicated prevention teams, forcing accounting staff to juggle fraud management in addition to their regular responsibilities. This strain on resources has largely come as a result of generative AI according to the report.

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Automation AI Fraud Prevention Deepfake 59

Finovate

APRIL 9, 2025

. “Our solution helps Security Bank deliver the experience their customers expect, while maintaining the highest standards of security and fraud prevention.” The technology combines robust security features with advanced fraud detection capabilities including as deepfake detection.

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Security Deepfake Verification Fraud Detection 87

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

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APACS Fraud Prevention Deepfake Account Takeovers 109

The Payments Association

APRIL 2, 2025

AI in payments: The battle against fraud's evolving threat May 2 2025 by Payments Intelligence LinkedIn Email X WhatsApp Whats the article about? How artificial intelligence is both enabling and combating payment fraud, based on insights from a recent industry webinar. Why is it important?

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AI Financial Crimes Deepfake Fraud Prevention 88

Finovate

DECEMBER 11, 2024

The acquisition will enhance LexisNexis Risk Solutions’ ability to combat emerging threats such as AI-generated fraud and deepfakes. LexisNexis Risk Solutions has agreed to acquire AI-powered automated document authentication and fraud detection solutions provider IDVerse.

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Risk Acquirers Deepfake Fraud Detection 52

Neopay

FEBRUARY 27, 2025

The financial sector is facing an unprecedented surge in AI-driven fraud, with deepfake-related attacks increasing by a staggering 2,137% over the past three years. of all fraud attempts detected in the financial sector now involve AI-generated forgeries, with deepfakes leading the charge.

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Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

Fintech News

FEBRUARY 19, 2025

LexisNexis Risk Solutions, part of RELX, has completed its acquisition of IDVerse , an AI-driven identity verification and fraud detection provider. With consumer consent, IDVerse’s AI verifies authenticity before matching the consumer’s face to the document photo. The terms of the deal were not disclosed.

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Risk Deepfake Fraud Detection Fraud Prevention 74

Fintech Finance

MARCH 4, 2025

Vixio , a leading provider of regulatory intelligence solutions, is proud to release its global Authorised Push Payment (APP Fraud) research. Both financial institutions and regulators have put fraud prevention and detection in the forefront for 2025.

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Fraud Prevention Deepfake Scams Fraud Detection 52

Fintech News

JULY 10, 2024

These partnerships aim to enhance fraud prevention efforts and strengthen the business environment in the region. Sumsub reports significant increases in fraud, particularly in deepfakes, across the Philippines, Indonesia, and Malaysia.

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Identity Theft APACS Deepfake Money Laundering 108

Finovate

MAY 28, 2025

In addition to offering fraud prevention tools like biometric watchlists and technologies such as deepfake detection, the partnership will also enable companies to offer advanced verification and eSIM capabilities to mobile operators. “Security has always been at the core of G+D’s mission.

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Fraud Prevention Verification Deepfake Central Bank 52

The Payments Association

OCTOBER 22, 2024

It aims to protect consumers from authorised push payment (APP) fraud but raises concerns about the adequacy of protection for larger fraud cases. Financial institutions must adopt AI-driven solutions and collaborate closely to proactively combat evolving fraud threats. AI is a double-edged sword in fraud prevention.

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Rules Fraud Prevention Caps Deepfake 88

Seon

MAY 23, 2024

across age groups and income brackets, the volume of digital activities and transactions are on the rise – and effective fraud prevention measures have never been more critical to safeguard a business’s bottom line. Speak with an Expert How Fraud is Evolving Today, we see bad behaviors amplified in scale and speed.

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Fraud Prevention Deepfake Fraud Detection Authentication 52

Fintech News

SEPTEMBER 9, 2024

There has been much progress, evolving from the usage of mere passwords and usernames to more sophisticated security markers like biometrics and those that use AI technology. 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 128

The Payments Association

MAY 7, 2025

As we navigate through 2025, high-risk merchants face a rapidly evolving fraud landscape. From AI-driven scams to rising chargeback rates, the challenges are growing more complex and costly. billion to chargebacks, a figure projected to rise as fraud tactics become more sophisticated. In 2024 alone, businesses lost $8.9

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Risk Disputes Debit Card Cross-Border 88

The Fintech Times

AUGUST 13, 2024

Identifying fraud in the age of artificial intelligence (AI) is much harder than it ever has been before. Fraudsters are more cunning and deceiving, taking advantage of those who either do not know or refuse to acknowledge the power of AI. What are some AI fraud trends we’re seeing in Latin America?

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AI Fraud Detection Fraud Prevention Phishing 59

The Fintech Times

MARCH 6, 2024

Artificial intelligence (AI) has been a godsend in the fintech industry. However, bad actors have also been able to abuse the tech, and in 2024, 87 per cent of industry experts have acknowledged the tech could be used to drive fraud attempts according to a new SEON report.

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AI Fraud Prevention Identity Theft Account Takeovers 59

Fintech Finance

FEBRUARY 20, 2025

ID-Pal , a leading provider of AI-powered identity verification solutions, today announced its membership with The Payments Association , an influential community of industry leaders and innovators committed to shaping the future of payments.

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AI Deepfake Verification Fraud Detection 52

The Payments Association

MARCH 10, 2025

Visa and Mastercard track MCCs for chargeback monitoring and fraud prevention. Example: A luxury watch retailer (MCC 5094Precious Stones & Jewelry) faces higher fraud risks than a grocery store (MCC 5411Supermarkets). If stuck with a high-risk MCC, use fraud prevention and chargeback reduction tools.

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Fraud Prevention Processors Disputes Compliance 88

The Fintech Times

FEBRUARY 23, 2024

Deepfakes and threats of AI Such activity could lead to identity theft, which IDnow believes should be a concern to the UK public, especially given the rise in deepfake technology. Developments in generative artificial intelligence (AI) mean deepfake technology can now be used to create hyper-realistic fake documents.

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Continuity Deepfake Risk Smishing 69

Fintech News

JUNE 6, 2024

Strengthening Defences: Banks’ Strategies to Combat Scams and Fraud To combat this growing threat, banks in ASEAN are implementing a range of measures to strengthen their defences against scams and fraud. Losses exceeded S$13 million (US$9.59

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Scams Phishing Deepfake Verification 109

The Payments Association

APRIL 7, 2025

The industry is now confronting emergent threats driven by technological advancements, such as AI-generated fraud and social media exploitation, amidst challenging economic conditions. Key findings reveal that fraud remains the foremost concern, with identity fraud being the most common type encountered.

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Financial Crimes Crime Fraud Prevention AML 88

Seon

JUNE 7, 2024

With its mimetic capabilities, AI-generated fraud is harder to detect and occurs at unprecedented volumes and velocities. How AI-Generated Fraud Works: Understanding the Threats AI-generated fraud represents a significant evolution in malicious activities, leaning on advanced technologies to create and execute sophisticated schemes.

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AI Innovation Fraud Prevention Fraud Detection 52

The Payments Association

OCTOBER 21, 2024

With a wealth of AI and deepfake technology at their fingertips, even the most novice of criminals can perpetrate sophisticated fraud. As Ben Agnew, CEO of The Payments Association, recently wrote in a blog for Cifas , APP fraud shows no signs of slowing down—it has grown by 12% in both value and volume annually.

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Scams Law Enforcement Crime Fraud Prevention 88

The Fintech Times

OCTOBER 31, 2024

LSEG Risk Intelligence , the compliance, risk management and fraud prevention solution provider, has launched two new products designed to enhance financial security and drive operational efficiencies across the globe. In the near-future, coverage of GAV will expand to 80 per cent of G20 countries.

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Mitigation Risk Global Payments Deepfake 59

Finovate

SEPTEMBER 18, 2024

The partnership will integrate ID-Pal’s AI-powered identity verification technology into CLOWD9’s payment solutions portfolio. Courtesy of the partnership, CLOWD9 will offer ID-Pal’s AI-powered identity verification technology via its payment solutions portfolio.

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Fraud Detection Verification Payment APIs and Integration OFAC 64

Seon

SEPTEMBER 20, 2024

SEON recently brought together industry leaders from the online lending space to discuss the evolving landscape of fraud prevention and risk management. The Changing Face of Fraud In what many describe as an “unpredictable era,” lenders are collectively challenged to stay ahead of increasingly sophisticated fraudsters.

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Risk Fraud Prevention Risk Management Deepfake 52

Finovate

SEPTEMBER 24, 2024

“While we are excited about the capital infusion to accelerate our development of fraud prevention and deep fake detection tools, we are equally excited about bringing in new partners to fuel Illuma’s continued commercial growth,” Illuma Co-Founder and CEO Milind Borkar said.

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Credit Union Deepfake Authentication Fraud Prevention 59

Fintech News

FEBRUARY 18, 2024

But with innovation comes risk – especially around identity verification and fraud prevention. This includes the development of proprietary technologies such as workflow builders, liveness and deepfake detection, and mechanisms to adhere to the travel rule.

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Verification Travel Rule Multi-Currency Compliance 120

Finovate

AUGUST 14, 2024

The battle against fraud is a never-ending one. 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.

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Credential FinTech Deepfake Fraud Detection 64

Fintech Finance

FEBRUARY 29, 2024

Socure , the leading provider of artificial intelligence for digital identity verification, sanction screening and fraud prevention, and Trustly , a leading global Open Banking payments provider, today announced an industry-first partnership to offer merchants and fintechs a streamlined onboarding and guaranteed Pay by Bank solution.

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Fraud Prevention Process FinTech Online and Mobile Banking 52

Finovate

OCTOBER 3, 2024

Equipped with Zero Bias AI Tested technology, IDVerse enables businesses to verify a wider range of identities, ensuring greater accessibility, for example with those with disabilities.

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Verification Deepfake Fraud Prevention User Authentication 59

PYMNTS

DECEMBER 17, 2019

Kopp is particularly concerned about the rise of synthetic identities , deepfakes and data breaches, as these new hacking measures have been unsettlingly successful in a number of recent cases. This has led to a rise of machine learning (ML) and artificial intelligence (AI) platforms purpose-built to sniff out crooks. or anywhere.

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Online and Mobile Banking Deepfake AML Data Breach 52

Seon

JUNE 1, 2023

Regardless of the number and types of security features chosen by an organization wishing to utilize high-security checks, their purposes are as follows: to deter fraudsters, reduce fraud, and protect the financial interests of the check payer and payee. Features of High-Security Checks High-security checks have a variety of features.

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Checks Security Fincen Payer 52

Seon

SEPTEMBER 28, 2023

Anti-fraud measures : Dedicated approaches to combate fincrime, such as fraud prevention solutions like SEON. 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.

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Security Phishing Best Practices Data Breach 52

Fintech News

OCTOBER 28, 2024

Fighting deepfakes and fraudulent identities – Jumio’s holistic approach to building identity trust” with “Jumio Delivers Adaptive Verification as AI Fraud Projected to Hit US$40 Billion. Hong Kong police recently arrested 27 individuals linked to a deepfake scam that swindled victims out of $46 million.

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Verification Deepfake AI Identity Theft 122

The Payments Association

FEBRUARY 18, 2025

AI-driven fraud is evolving fastbanks must adopt adaptive AI models to detect and prevent scams in real-time. In the first half of 2024, criminals stole571million in the UK through unauthorised and authorised frauda stark reminder that existing fraud prevention methods are failing to keep pace.

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AI Romance Scams Fraud Prevention Scams 88