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Automated Bot Attacks Surge on Social Media in 2024, AU10TIX Reveals

The Fintech Times

Automated bot attacks on social media surged dramatically in the second quarter of 2024, according to AU10TIX ’s latest Global Identity Fraud Report. This rise highlights growing concerns about the ability of social media platforms to detect and combat organised fraud, particularly as bots become more sophisticated.

Bots 59
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The growing threat of AI-enabled fraud

Neopay

Fraudsters are exploiting GenAI tools such as large language models (LLMs), voice cloning, and deepfakes to carry out increasingly sophisticated scams that are harder to detect and prevent. Romance fraud: Deepfake images and videos help fraudsters create convincing personas to manipulate victims emotionally and financially.

AI 59
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Deepfake Disruption in Financial Services

Trade Credit & Liquidity Management

As financial institutions navigate a rapidly digitizing landscape, the rise of AI-generated deepfakes is no longer a fringe concern—it’s a growing enterprise risk. “Deepfake technology has emerged as both a marvel and a menace,” continued Miyachi.

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Deepfakes’ Next Stop: Banking

PYMNTS

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.”.

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Sumsub Combats Fraud Networks in APAC With Upgraded Solution

Fintech News

This tool is designed to help businesses tackle fraud rings, account takeovers, chargeback fraud, and bot attacks. Fraud networks, however small they may seem right now, will gain prominence, just like AI-powered deepfakes. The damage of fraud rings is much more significant than that of individual scammers.

APACS 109
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Top 5 fraud trends affecting high-risk merchants in 2025

The Payments Association

1) AI-driven fraud and deepfakes Fraudsters are increasingly leveraging Artificial Intelligence (AI) to conduct highly convincing scams. These sophisticated attacks are designed to deceive even the most cautious businesses and consumers, from AI-generated phishing emails to deepfake videos and voice impersonations.

Risk 88
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AI in payments: The battle against fraud’s evolving threat

The Payments Association

The panellists described a troubling evolution: traditional scams being supercharged by artificial intelligence. “Real-time deepfakes have moved beyond theoretical concerns,” explained David Sutton, chief innovation officer at Featurespace. Beyond high-profile cases, criminals are using AI more subtly to scale up operations. .

AI 88