Finextra

MARCH 12, 2025

Singapore authorities are warning businesses of a rise in scam video calls which use deepfake AI to impersonate business bosses with the aim of duping employees into transferring funds to criminal accounts.

Deepfake 110

Deepfake Authorization Scams AI 110

The Fintech Times

FEBRUARY 14, 2025

“Using AI-driven tactics such as deepfake selfies and synthetic identities, organised fraudsters are testing traditional security measures like never before. It says future-proofing means adopting AI-driven validation and multi-layer defences to combat deepfakes, synthetic identities, and emerging threats.

Deepfake 78

Deepfake APACS Law Enforcement Fraud Detection 78

Fintech News

NOVEMBER 6, 2024

Ant International is employing advanced artificial intelligence (AI) technologies to streamline and secure cross-border transactions for nearly 100 million SMEs across over 200 markets. One of its key innovations is an AI-powered foreign exchange (FX) model capable of predicting currency exchange rates hourly.

Cross-Border 109

Cross-Border AI Deepfake Transactions 109

The Fintech Times

AUGUST 14, 2024

Generative AI, when used correctly, can be a great tool that aids innovation. In the wrong hands, however, it can be incredibly harmful, especially with the emergence of deepfakes. Seventy per cent believe these fakes using generative AI will have a big impact on their organisations. AI: friend or foe?

Deepfake 76

Deepfake AI Phishing Ransomware 76

Finovate

MARCH 19, 2025

This includes a global, fourfold increase in AI-driven deepfake scams. ” Through the partnership, banks and fintechs working with Tuum will benefit from automated identity verification and AI-powered fraud detection and transaction monitoring. .

Fraud Prevention 96

Fraud Prevention Fraud Detection Payment APIs and Integration Verification 96

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

AUGUST 7, 2024

As much as 53 per cent of Brits have either never heard of the term deepfake or misunderstood its meaning, British bank Santander has revealed, as part of a new initiative to warn consumers about the dangers of AI deepfake scams.

Deepfake 65

Deepfake Scams Romance Scams AI 65

Fintech News

JUNE 18, 2024

The advancement of generative artificial intelligence (gen AI) has opened up new commercial, social, and technological opportunities. The document, released in May 2024, outlines challenges associated with gen AI and shares a comprehensive gen AI risk framework to guide financial institutions in using the technology in a responsible manner.

AI 120

AI Use Case Risk Deepfake 120

The Fintech Times

DECEMBER 19, 2024

This strain on resources has largely come as a result of generative AI according to the report. Specifically, 62 per cent of businesses cite generative AI as a key driver behind the surge in invoice fraud according to The Rise in AP Fraud report by Basware.

Automation 59

Automation AI Fraud Prevention Deepfake 59

The Fintech Times

NOVEMBER 20, 2024

Artificial intelligence (AI) has emerged as a key component in the modern fight against fraud. 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. per cent of attacks globally).

Deepfake 69

Deepfake Phishing Account Takeovers Scams 69

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.

Deepfake 125

Deepfake APACS Scams Authentication 125

Trade Credit & Liquidity Management

APRIL 29, 2025

As financial institutions navigate a rapidly digitizing landscape, the rise of AI-generated deepfakes is no longer a fringe concern—it’s a growing enterprise risk.

Deepfake 52

Deepfake AI Bots Scams 52

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? With fraud accounting for a significant portion of UK crime, understanding AIs role is critical for developing effective, future-ready defences. Why is it important?

AI 88

AI Financial Crimes Deepfake Fraud Prevention 88

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. With a wealth of AI and deepfake technology at their fingertips, even the most novice of criminals can perpetrate sophisticated fraud.

Scams 88

Scams Law Enforcement Crime Fraud Prevention 88

Fintech News

MARCH 20, 2024

In Myanmar and other Southeast Asian countries, cyber scam rings target victims with fraudulent schemes like fake jobs or investments. 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.

APACS 109

APACS Fraud Prevention Deepfake Account Takeovers 109

The Payments Association

MAY 7, 2025

From AI-driven scams to rising chargeback rates, the challenges are growing more complex and costly. 1) AI-driven fraud and deepfakes Fraudsters are increasingly leveraging Artificial Intelligence (AI) to conduct highly convincing scams. In 2024 alone, businesses lost $8.9

Risk 88

Risk Disputes Debit Card Cross-Border 88

The Payments Association

OCTOBER 22, 2024

Financial institutions must adopt AI-driven solutions and collaborate closely to proactively combat evolving fraud threats. As fraud continues to rise, especially with the emergence of AI-powered scams, is this new regulation enough to tackle the ever-evolving threat of financial fraud? What’s next?

Rules 88

Rules Fraud Prevention Caps Deepfake 88

Fintech Finance

MARCH 4, 2025

As digital payments increase post-COVID and scammers implement new solutions such as artificial intelligence (AI), the report takes a look at how regulators around the world are seeking to combat fraud.

Fraud Prevention 52

Fraud Prevention Deepfake Scams Fraud Detection 52

Fintech Finance

MAY 14, 2025

Of the 18 distinct dimensions investigated in all markets, those that correlate most closely with the overall trust score were trust that new technology makes payment safer and trust in AI tools. This illustrates the inherent economic value of innovative payments and AI technologies.

Economy 52

Economy Consumer Deepfake Consumer Protection 52

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.

FinTech 124

FinTech Cross-Border Cross-Border Payments Deepfake 124

BioCatch

OCTOBER 22, 2024

You can find Part 1 on impersonation scams here and Part 2 on money mules here. This is the third piece in an ongoing conversation between BioCatch Global Advisor Seth Ruden and BioCatch Threat Analyst Justin Hochmuth about how various fraud trends impact smaller financial institutions.

Deepfake 52

Deepfake Scams Advisors AI 52

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.

Deepfake 69

Deepfake Security Cybersecurity Procedures 69

The Fintech Times

SEPTEMBER 11, 2024

AI-powered fraud-as-a-service (FaaS) platforms have enabled these mass-scale attacks, contributing to APAC now holding the highest global fraud rate, with 3.27 Bots and deepfakes The rise of bots using deepfake technology to create convincing fake profiles poses an additional challenge.

Bots 59

Bots Deepfake Automation APACS 59

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. In Asia, investment scams, Ponzi schemes, and romance fraudsalso known as “pig butchering” scamscontinue to target unsuspecting retail investors.

Crime 90

Crime Ransomware Scams Phishing 90

The Fintech Times

JANUARY 17, 2024

Artificial intelligence (AI) has emerged as a new fraud challenge finds ComplyAdvantage , the AI-driven fraud and AML risk detection firm, as it launches ‘The State of Financial Crime 2024’ report. Risks include deepfakes, sophisticated cyber hacks, and the use of generative AI to create malware.

AI 59

AI Financial Crimes Crime Security 59

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.

AI 52

AI Innovation Fraud Prevention Fraud Detection 52

Finovate

FEBRUARY 8, 2024

Corsound AI Corsound AI utilizes innovative technology to verify customers’ identities for financial institutions, leveraging over 200 patents to detect AI scams and voice fraud. Finerative Finerative is a Gen-AI native startup bringing generative technology to the financial space.

Payment APIs and Integration 59

Payment APIs and Integration Identity Theft Deepfake AI 59

PYMNTS

SEPTEMBER 9, 2019

The cybersecurity world is witnessing a potentially new, dangerous threat: according to insurance firm Euler Hermes, one of its corporates fell victim to cyber fraud after attackers used sophisticated artificial intelligence (AI) technology to impersonate the firm’s chief executive officer by mimicking his voice on the phone.

Cybersecurity 72

Cybersecurity Email Compromise Deepfake Crime 72

Seon

JUNE 27, 2024

We don’t know what AI will look like one year from today. The evolution of AI adds layers of complexity, presenting unprecedented opportunities and significant threats. On the one hand, AI’s capabilities enhance defense mechanisms, enabling the detection and counteraction of fraud with remarkable efficiency.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

The Fintech Times

SEPTEMBER 4, 2024

Leflambe continues: “In parallel, fraudsters leverage new technology very quickly (for instance, using deepfakes to circumvent liveness checks) and compliance teams must remain very vigilant about new controls not being outdated as a result.” Regular resilience testing and reporting further strain resources.

Compliance 65

Compliance Rules Regulations Laws 65

Seon

MAY 23, 2024

Additionally, the rise of AI and machine learning are introducing newly advanced, sometimes opaque, fraud detection systems based on blackbox machine learning , rendering teams without clear insights or customization options to tailor solutions to their business use case and best workflows.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

Seon

SEPTEMBER 20, 2024

The rise of artificial intelligence (AI), machine learning (ML) and automation have all added new layers of complexity to fraud prevention at an unprecedented scale. For instance, fraudsters now leverage innovative technologies to create deepfakes, bypassing traditional identity verification methods like document ID checks and biometrics.

Risk 52

Risk Fraud Prevention Risk Management Deepfake 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.

Verification 122

Verification Deepfake AI Identity Theft 122

Fintech News

APRIL 8, 2025

Is it even a regular Tuesday if someone in Singapore hasnt fallen for a scam? Its starting to feel like scams are as common as bubble tea outlets in this country they’re everywhere, always popping up in new flavours, and somehow, people just keep going back for more. And lets be real for a second.

Scams 99

Scams Authorization Legal Framework Crime 99

Fintech News

MAY 20, 2025

There has been a significant decline in consumer trust in the digital world, largely driven by the rise of AI-powered fraud and deepfakes, according to a recent study by Jumio. Globally, 69% of respondents said AI-enabled fraud now poses a greater threat to personal safety than traditional identity theft.

AI 72

AI Deepfake Scams Identity Theft 72

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.

Scams 113

Scams Deepfake Fraud Prevention Risk 113

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. The ease with which criminals can now target victims on their trusted devices, combined with the rise of sophisticated AI tools, has made these attacks significantly more difficult to detect.

AI 88

AI Romance Scams Fraud Prevention Scams 88