Remove AI Remove Fraud Detection Remove Verification
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Finance AI Chatbots for Businesses

The Finance Weekly

What Are Finance AI Chatbots? At their core, finance AI chatbots are virtual assistants designed to automate financial tasks and provide customers with personalized, real-time support. Why Are Finance AI Chatbots Important for Businesses? Best Finance AI Chatbots 1. So, what exactly is a chatbot?

AI 130
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The rise of generative AI in payment security: A double-edged sword for data privacy

The Payments Association

The dual impact of generative AI on payment security, highlighting its potential to enhance fraud detection while posing significant data privacy risks. It underscores the need for payment firms to balance AI innovation with robust privacy and regulatory compliance to protect sensitive consumer data. Why is it important?

Privacy 88
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LexisNexis Risk Solutions Set to Acquire IDVerse to Combat AI Fraud

Fintech News

LexisNexis Risk Solutions, a global data and analytics company under RELX, has agreed to acquire IDVerse , a provider of AI-powered document authentication and fraud detection solutions. This move will enable LexisNexis Risk Solutions to further enhance its capabilities in combating AI-generated fraud, including deepfakes.

Risk 122
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Navigating the rise of AI-enabled fraud

The Payments Association

The article explores the growing threat of AI-enabled fraud in the payments sector and how firms can combat it with advanced technologies. It highlights the urgent need for payments firms to address AI-driven fraud to protect financial security, maintain customer trust, and comply with regulations. Why is it important?

AI 88
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APAC Sees 23% Decline in Crypto Fraud

Fintech News

According to a new report by Sumsub, crypto fraud rates declined by a remarkable 23% between 2023 and 2024, positioning APAC as a leader in combating crypto fraud. Sumsubs 2024 industry survey reveals a strong preference for automated third-party solutions (40%) and combined methods (45%) for the industrys identity verification needs.

APACS 94
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Jumio Rolls Out Advanced Liveness Detection to Combat Deepfakes

Fintech News

The new solution builds on the recently launched in-house Jumio Liveness and is designed to enhance protection against sophisticated identity fraud tactics, including deepfakes and injection attacks. AI-generated faces, synthetic overlays and injection techniques are now being deployed at scale by bad actors.

Deepfake 105
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Identity Fraud Surges in Scale and Sophistication, with APAC’s Financial Services Becoming a Prime Target

Fintech News

Data from identity verification specialist Sumsub reveal that identity fraud incidents have more than doubled in the past three years, with account takeovers and deepfakes emerging as major concerns. Between 2021 and 2024, identity fraud rates increased from 1.1% Deepfakes now account for 40% of all biometric fraud detected.

Deepfake 101