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. According to the research, 42.5%

Deepfake 52

Deepfake Fraud Detection Account Takeovers Fraud Prevention 52

Fi911

JUNE 9, 2025

What started as simple phishing emails has evolved into complex schemes involving social engineering, insider knowledge, and technical sophistication that can fool even experienced professionals. Technical Defense Strategies Email authentication forms the foundation of BEC defense. Secure communication channels reduce exposure.

Email Compromise 52

Email Compromise Business Email Compromise Compromise Law Enforcement 52

The Payments Association

OCTOBER 22, 2024

This increase was driven by fraudsters leveraging sophisticated techniques, such as fraud networks, phishing scams and AI-generated deepfakes, to trick victims into authorising payments. While fraudsters use it to create deepfakes and manipulate unsuspecting victims, financial institutions can also harness AI to combat these threats.

Rules 88

Rules Fraud Prevention Caps Deepfake 88

The Fintech Times

DECEMBER 21, 2023

Today we hear insights from payments experts, including the adoption of tap-to-pay technology, the role of blockchain and AI in payments, flexible payment terms, security in authentication methods, PSD3 implementation, vertical-specific solutions, and the rise of digital wallets.

Cross-Border Payments 115

Cross-Border Payments Cross-Border Online and Mobile Banking Payments 115

The Payments Association

JUNE 11, 2025

Key changes could include embedding platform-wide risk analytics, adopting real-time authentication, aligning their fraud strategies along business goals, and embracing transparency through AI. AI-driven scams leverage sophisticated attacks from phishing emails to deepfake videos and voice impersonations.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Seon

MAY 23, 2024

Traditional anti-fraud methods, like device checks, two-factor authentication (2FA), biometrics and security questions, are outdated against emerging innovative technologies that are compelling new forms of sophisticated fraud. Spoofing involves replicating or falsifying biometric data to deceive authentication systems.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

Seon

SEPTEMBER 28, 2023

Verizon Business estimates that 74% of data breaches are down to individuals being absent-minded or tricked by social engineering attacks such as phishing emails. This includes protecting themselves with approaches such as multi-factor authentication and malware recognition, or using reverse lookup to assess whether someone is trustworthy.

Security 52

Security Phishing Best Practices Data Breach 52

Finovate

FEBRUARY 8, 2024

Entrust would also be able to leverage biometric, phishing-resistant authentication for use in high-value transactions. “Step-up authentication using biometric-based, AI-driven identity verification will be critical to ensuring security, privacy, and trust in these high-value digital-first interactions.”

Acquirers 52

Acquirers Verification Deepfake AI 52

Seon

JUNE 7, 2024

One common tactic is fraudsters generating fake documents and data (or using synthetic IDs), all of which are crafted precisely and closely resemble authentic materials. Other AI applications include enhancements to traditional scams, such as phishing and social engineering attacks.

AI 52

AI Innovation Fraud Prevention Fraud Detection 52

CB Insights

MAY 3, 2018

Within a year, it will be extremely easy to create high-quality digital deceptions whose authenticity cannot be easily verified. Automated laser phishing. Uncovering hidden metadata for authentication. Below, we detail the technologies, tactics, and implications of the next generation of war. Computational propaganda.

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Bots Deepfake Phishing AI 78