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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.
These AI-created images, videos, and audio content, called deepfakes, showcase how advanced AI generation tools have become. AI deepfakes often have convincing video and voice manipulation, making them increasingly difficult to identify–and this technology is only becoming more advanced and easily accessible. Why Selfie Verification?
However, this powerful technology has also been exploited by malicious actors to create deepfakes – highly convincing simulations of individuals saying or doing things they never actually did. Deepfakes have since evolved into a formidable challenge for conventional identity verification methods.
User-friendly fraud-as-a-service (FaaS) kits that enable amateurs to execute complex attacks against thousands of accounts in minutes are becoming increasingly available online, AU10TIX , the identity verification and management technology provider, has revealed.
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. Consider Hong Kong, where in early 2024 a deepfake scam tricked a corporate employee into transferring USD $25.6
“Security Bank is transforming digital banking in the Philippines, and we’re proud to support their vision with advanced identity verification that makes onboarding both more secure and convenient,” said Entrust Regional VP of Sales, APAC, Harvinder Singh. Entrust came out of the gates strongly in 2025.
AI-powered automated document authentication and fraud detection solutions provider, IDVerse is set to be acquired by data and analytics platform, LexisNexis Risk Solutions and become a part of LexisNexis Risk Solutions Business Services to combat AI-generated fraud. AI-powered document verification represents this kind of balance.”
In the wrong hands, however, it can be incredibly harmful, especially with the emergence of deepfakes. A new survey from iProov , the biometric solutions provider, has revealed the attitudes on the threat of generative AI and deepfakes across the UK, US, Brazil, Australia, New Zealand and Singapore.
The rise of deepfakes — the eerily lifelike impersonations that superimpose heads onto bodies and bodies onto heads in seamless ways that integrate speech and movement, where nothing is as it seems — may be good for a laugh. From Arnold Schwarzenegger, to Kim Kardashian, to maybe, just maybe: You. It’s like a Hollywood special effect.”.
LexisNexis Risk Solutions has signed an agreement to acquire document authentication and fraud detection solutions provider IDVerse. The acquisition will enhance LexisNexis Risk Solutions’ ability to combat emerging threats such as AI-generated fraud and deepfakes. Terms were not disclosed.
Checkout.com , a leading global digital payments company, today announced the launch of face authentication, an AI-powered extension to its Identity Verification (IDV) solution. “ Face authentication is designed for those points in the user journey, like account recovery or re-onboarding, where friction often creeps in. .
Identity verification innovator ID-Pal has unveiled its reusable KYC solution, ID-Pal Once. The new offering streamlines the verification process, enabling users to complete identity verification as much as 5x faster. AI-powered identity verification specialist ID-Pal has introduced its reusable KYC solution ID-Pal Once.
Understanding AI-enabled fraud As fraudsters invest in more sophisticated technology, including deepfakes, synthetic identities and automated phishing, the need for payments firms to adopt better AI-driven fraud detection systems grows. fingerprints, facial recognition), and behavioural biometrics (e.g.,
These attacks often coincide with travel schedules or major transactions when verification becomes difficult. Technical Defense Strategies Email authentication forms the foundation of BEC defense. Multi-factor authentication protects against credential compromise but must extend beyond employee accounts.
These measures encompass additional customer authentication, cross-border transfer limit reviews, session management controls, and establishing a bank-to-bank information-sharing platform to safeguard the financial sector from evolving threats. Criminals can leverage deepfakes for extortion, brand sabotage, fraud, and other illicit schemes.
The rapidly increasing prevalence of AI-generated content and deepfakes has left many questioning everything they see online. In fact, as much as 72 per cent of consumers worry on a day-to-day basis about being fooled by a deepfake into handing over sensitive information or money.
.” In the Philippines, The Philippine Statistics Authority in partnership with the Department of Information and Communications Technology, launched the Digital National ID this June, together with authentication platforms, National ID eVerify and National ID Check.
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%
The partnership will combine Daon’s identity verification and biometric authentication technology with Giesecke+Devrient’s digital security product suite. Daon conducts more than 250 million daily authentications and serves hundreds of millions of users on six continents.
LexisNexis Risk Solutions, part of RELX, has completed its acquisition of IDVerse , an AI-driven identity verification and fraud detection provider. IDVerse, founded in Australia in 2018, specialises in document authentication and biometric identity verification. The terms of the deal were not disclosed.
The House’s Subcommittee on Consumer Protection and Commerce heard digital experts, as well as a representative from Facebook, testify in regards to the measures tech firms are using to fight against deepfakes, and what further actions should occur at the federal level, CNBC reported Wednesday (Jan. Chairwoman Jan Schakowsky, D-Ill.,
These capabilities make LLMs ideal for real-time fraud detection, transaction monitoring, and identity verification, helping payment providers stay one step ahead of fraudsters and ensuring a more secure financial ecosystem. Enhanced fraud detection extends to biometric authentication, a key element of payment security.
An injection attack occurs when a fraudster injects a deepfake– which could be a synthetic document, video, facial image, or audio representation– into an identity verification workflow to spoof the system. This works to bypass traditional fraud detection and identity verification methods.
Biometric identity verification firm iProov has appointed Alex Pearson as chief revenue officer. Identity verification platform IDnow has partnered with biometric authentication provider Keyless to enable ongoing user authentication beyond onboarding. Joining her are Agustín Carstens and Sanjiv Bajaj.
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. Now, Michael Marcotte, CEO of artius.iD , a digital ID and authentication firm, is calling on the cybersecurity industry to put banking at the top of the agenda.
Voice authentication solutions provider Illuma received strategic financing from Stifel Bank. ” Illuma will use today’s financing to help community banks and credit unions enhance security and streamline authentication processes across voice channels. . “We are excited to support their continued growth.”
AU10TIX, a company specialising in identity verification and management, also reveals significant vulnerabilities in the Asia-Pacific (APAC) region, where financial-related identity fraud has been escalating. Bots and deepfakes The rise of bots using deepfake technology to create convincing fake profiles poses an additional challenge.
The urgency to manage AI-related identity risks, including deepfakes , is low in the UK with around one third (35 per cent) already having a strategy in place to manage threats of this nature. Only 45 per cent of global organisations have implemented multi-factor authentication (MFA). respondents saying the same.
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. To keep up, organisations need to move away from simple, KYC-focused verification and towards a proactive, multi-layered approach."
Voice authentication technology innovator Illuma Labs has raised $9 million in funding. As the first major investment for the company, the capital will help accelerate the development of Illuma’s voice verification offerings to help banks and other institutions fight fraud, voice cloning, deep fakes, and more.
This advanced solution is also known as “anti-spoofing” or “liveness verification.” In doing so, it protects our banking processes and ensures only authentic interactions. Liveness detection is a pivotal security feature in different authentication processes, including biometric verification. What is Liveness Detection?
From the challenge of AI-powered deepfakes to the sad fact that many of our own bad habits continue to keep fraudsters in business, fintechs are busy developing solutions to help us get and stay at least one step ahead of the bad guys. Digital identity verification innovator Socure has unveiled its Selfie Reverification solution.
Identity verification solution and infrastructure company IDVerse announced a partnership with Hastings Direct Loans. based lender will leverage IDVerse’s technology to enhance the accuracy and reliability of its identity verification process. IDVerse, as OCR Labs, won Best of Show at FinovateAsia in 2017.
Payments, identities, and data security company Entrust confirmed that it has entered “exclusive discussions” to acquire identity verification technology company Onfido. Trusted payments, identities, and data security company Entrust may be on the verge of acquiring identity verification (IDV) technology company Onfido.
Cryptocurrency companies that previously let customers remain anonymous will have to change their tunes in some countries, as will online gambling sites that provided fast onboarding at the expense of rigorous identity verification approaches. Get the full scoop in the Tracker. About The Tracker.
Socure , the leading provider of artificial intelligence for digital identity verification, sanction screening and fraud prevention, and Trustly , a leading global Open Banking payments provider, today announced an industry-first partnership to offer merchants and fintechs a streamlined onboarding and guaranteed Pay by Bank solution.
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.
FIs have thus been seeking out online verification methods that are rigorous enough to meet regulatory approval but quick enough for customers. The company then reviews the recorded videos for authenticity. Fraudsters could upload pre-recorded videos of other people, wear masks or use deepfakes to try to hide their true identities.
Earlier this year, Freelancer.com CEO Matt Barrie spoke with PYMNTS about video identity verification, a tactic useful for service providers beyond the banking world. This footage is then reviewed to confirm a person’s identity. ”
You want to authenticate your users so you know who they are, and you want to stop fraud,” he said. Technology can provide strong support, but not much can beat the security of a live video feed, he added – unless, of course, deepfake videos become more sophisticated. Verification Through Reviews .
Checkout.com , a leading global digital payments company, today announced the launch of face authentication, an AI-powered extension to its Identity Verification (IDV) solution. “Face authentication is designed for those points in the user journey, like account recovery or re-onboarding, where friction often creeps in. .
“I could spot an AI deepfake easily.” However, a warning has been issued from the science-based solutions for biometric identity verification firm, iProov , as it reveals just 0.1 Both US and UK consumers were tested, being told to examine a variety of deepfake content, including images and videos.
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. the UK, Singapore, and Mexico, indicates growing unease about the authenticity of online content and personal security.
Online streaming video, credit-card verification sites, Web referral rings, and video technology like Flash can be traced back to innovations designed to share and sell adult content. Examples include the following: Facial recognition systems provide authentication and facial verification to confirm an individual’s identity.
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