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Identity Fraud Attacks on Social Media Rose by 27% in 2024 Alone, Reveals AU10TIX

The Fintech Times

” In one instance, AU10TIX detected a single mega attack spanning four geographies (APAC, EMEA, LATAM, NA) and three industries (payments, crypto, social media). Fraud trends in 2024 AU10TIX revealed that APAC led the pack as the epicentre of 2024s mega attacks, taking 88 per cent of the overall share.

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The Fintech Times – Edition 59

The Fintech Times

Across different regions – from Europe and the US to APAC and LATAM – banks are tweaking their AI strategies to their unique market conditions. And we can’t ignore the darker aspects of AI, especially its role in sophisticated online scams, including romance scams and phishing. Happy reading!

FinTech 59
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Crypto Scam Losses Exceeded $4Billion in 2024, Driven by Deepfake and AI Tech, Says Bitget

The Fintech Times

According to the new report, AI-powered scams have moved beyond phishing emails to include fake Zoom calls, synthetic videos of public figures, and Trojan-laced job offers. From phishing rings to fake staking dApps, the tactics may change, but the psychology is always the same,” added Lisa , security operations lead at SlowMist.

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Billions Lost to Fraud Despite Efforts, APAC Fintechs Grapple with Rising Threats

Fintech News

This predicament is particularly acute for fintech firms in the Asia-Pacific (APAC) region, where the fintech sector is rapidly expanding. The Evolving Fraud Landscape APAC has seen a significant uptick in corporate data breaches, profoundly impacting fintech companies. million in 2021.

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Are APAC Businesses Ready? Assessing Digital Preparedness in Finance

Fintech News

In an era marked by rapid technological evolution, the finance function within businesses stands at the forefront of digital transformation in the Asia Pacific (APAC). Digital transformation in APAC This digital acceleration suggests a future where AI and automation streamline operations and unlock new avenues for innovation and growth.

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System Intrusion Rises to Dominance in APAC Threat Landscape

Fintech News

Asia-Pacific (APAC) is experiencing a dramatic surge in system intrusion attacks, as cybercriminals increasingly favor more sophisticated, multi-stage methods to gain deeper, sustained access into organizational systems. In 2024, these attacks accounted for 20% of breaches in APAC, marking a 49-point decline from 69% back in 2020.

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The Shifting Landscape of Fraud and Identity in 2024

Fintech News

Tackling such sophisticated identity fraud will be a priority across APAC in 2024. APAC nations face unique fraud challenges In the Jumio report, a concerning picture emerges for the Asia-Pacific (APAC) region, where significant challenges related to fraud and identity issues are on the rise.

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