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Cyber Threats Surge in India’s Financial Sector

Fintech News

The rise of AI The report also identifies artificial intelligence (AI) as a growing trend in the Indian cybercrime landscape. with attackers increasingly leveraging AI to make identity-based attacks more sophisticated and pervasive. The surge of deepfakes The rise of AI has also led to a surge in deepfake attacks.

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Deepfake Dangers Escalate: AuthenticID Unveils Troubling Trends in 2025 Fraud Report

The Fintech Times

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.

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Using AI And Biometrics To Digitize Estate Planning

PYMNTS

The COVID-19 pandemic has triggered an uptick in digital fraud and identity theft, with 18,235 pandemic-related fraud reports received by the Federal Trade Commission (FTC) since the beginning of the year. For more on these and other digital identity news items, download this month’s Tracker.

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Meet Grey Nickel, the AI Crime Syndicate Targeting Banks and Crypto Across Asia

Fintech News

At the centre of this threat is Grey Nickel , a sophisticated cybercriminal group using deepfakes, synthetic identities, and AI-powered attack tools to breach banks, crypto exchanges, and digital payment platforms. In Southeast Asia, AI-powered deepfake crimes saw a 600% surge in online mentions in the first half of 2024 alone.

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HPS and Enigma Join Forces to Revolutionise Fraud Detection With AI

Fintech Finance

HPS , a leading global provider of payment software and solutions, and Enigma , a global leader in artificial intelligence enabled entity resolution and decision-making, today announced a strategic collaboration to deliver cutting-edge AI fraud detection models to businesses worldwide.

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Post-Holiday Returns, Chargebacks Could Undermine Record-Breaking 2024 Shopping Season

Fintech Finance

Friendly fraud is the second most common form of fraud, ahead of card testing and identity theft, according to a survey by Merchant Risk Council (MRC) and Verifi. In fact, Visa reports that friendly fraud now accounts for up to 75% of all chargebacks, highlighting the ever-worsening issue of chargeback abuse and misuse.

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How Has AI Impacted the Embedded Finance Space in Recent Years?

The Fintech Times

Artificial Intelligence (AI) has dominated discussion across all fintech sub-sectors for at least the last couple of years and continues to do so. With this in mind, it only makes sense that we delve into the impact that AI has had on the embedded finance space as part of our April monthly theme.