The Fintech Times

FEBRUARY 9, 2024

The buzz surrounding Artificial Intelligence ( AI ) continued throughout 2023, right the way through to now – thanks to the seemingly limitless potential of the emerging technology. It saw a 672 per cent increase from H1 2023 to H2 2023 in the use of deepfake media such as face swaps deployed alongside metadata spoofing tools.

Deepfake

The Payments Association

FEBRUARY 13, 2025

In partnership with The Engineer, Expleo is bringing together industry experts for a webinar on ‘AI in cybersecurity: The Threats you cant see (yet)’, taking place on Wednesday, March 5, at 11:00 am GMT. To discover how AI is reshaping cybersecurity as a threat and a defence, save your spot here. Why attend?

Cybersecurity

The Fintech Times

AUGUST 14, 2024

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.

Deepfake

The Fintech Times

NOVEMBER 20, 2024

However, it is unfortunately being used by both sides as AI-assisted fraud is growing more frequent and more sophisticated according to a new report from the think tank that provides insights to help organizations protect themselves, adapt, and grow, The Entrust Cybersecurity Institute. It is a staggering 1,600 per cent increase since 2021.

Deepfake

PYMNTS

AUGUST 24, 2020

The business email compromise (BEC) scam continues to rear its ugly head at the enterprise, with the global pandemic creating even more avenues through which cyber attackers can steal company money. Even for businesses that have yet to be targeted in a deepfake attack, Sadler emphasized the importance of proactive efforts.

Deepfake

Fintech News

JANUARY 17, 2024

As the financial industry continues to evolve, so do the tactics fraudsters employ. Companies in the region report a 28 percent rise in cyber threats, highlighting the urgent need for robust cybersecurity measures. As deepfakes become more accessible and more challenging to detect, organisations may struggle to combat forged content.

Deepfake

The Fintech Times

MAY 17, 2024

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.

Deepfake

The Fintech Times

FEBRUARY 23, 2024

Despite almost half (45 per cent) of the UK-based respondents (2,264 were surveyed) being aware that scans or photos of ID documents could be obtained by fraudsters, they continued to send them on channels like messenger apps, email and social media, which can be infiltrated by bad actors. Not to mention videos too.

Continuity

The Fintech Times

MAY 16, 2024

Biometric-based fraud is the largest threat currently facing financial service providers, Michael Marcotte , co-founder of the National Cybersecurity Center (NCC), explained in a warning to banking executives. Firms continuing to use dated means of verification and user authentication could pay if they do not make changes.

Deepfake

Seon

JUNE 27, 2024

Such uncertainty is unwelcome in cybersecurity and fraud. As AI-driven progress continues to surge, questions arise about maintaining its progress over the long term without compromising security. These advancements have changed the way we approach cybersecurity and fraud detection.

Cybersecurity

Fintech News

JUNE 30, 2024

Gen AI predictions Looking ahead, gen AI innovation is expected to continue growing. Market intelligence platform CB Insights forecasts that 2024 will focus on sustainable AI operations, creating solutions that stick, addressing societal implications, and shifting cybersecurity paradigms.

AI

Fintech News

JUNE 6, 2024

As the digital landscape continues to evolve, fraudsters are becoming increasingly sophisticated in their methods, posing a serious threat to both financial institutions and their customers. Losses exceeded S$13 million (US$9.59 Malicious actors can now create highly convincing videos, images, or audio recordings with these tools.

Scams

The Fintech Times

DECEMBER 21, 2023

“As hackers continue to gain access to powerful AI tools, we can expect this trend to gain greater prominence in 2024. This will result in improved efficiency and security, but it will also involve the challenge of adhering to evolving regulatory guidelines and cybersecurity measures.

Cross-Border Payments

Fintech News

FEBRUARY 10, 2025

While the global crypto market continues to boom, with transaction volumes surpassing USD $10.6 As North Korean cybercriminals continue to target DeFi protocols, Asian firms must remain vigilant against increasingly sophisticated attack vectors. Asia-based crypto exchanges have not been immune.

Crime

PYMNTS

SEPTEMBER 10, 2019

“Recognizing the high possibility of criminal activity, we promptly established a team comprising legal professionals, then reported the loss to local investigating authorities,” Toyota continued. Cybersecurity company Agari recently released data that estimates $13.5

Email Compromise

The Fintech Times

OCTOBER 31, 2024

Fighting deepfake-enabled fraud As synthetic media such as deepfakes increasingly impact digital identity, verifying customer identities has become crucial to prevent fraud and remain complaint. In the near-future, coverage of GAV will expand to 80 per cent of G20 countries.

Mitigation

The Fintech Times

AUGUST 13, 2024

Specialising in detecting and predicting financial behavioural patterns, we continue to develop solutions based on our self-learning AI technology. In contrast, our AI-powered models continuously ingest new data streams to dynamically update fraud detection capabilities. It’s a big challenge, but one I’m confident we can rise to.

AI

The Fintech Times

JANUARY 17, 2024

AI: Fighting the emerging threat Two-thirds (66 per cent) of financial industry respondents think the use of AI by fraudsters and other criminals poses a growing cybersecurity threat. Risks include deepfakes, sophisticated cyber hacks, and the use of generative AI to create malware.

AI

The Fintech Times

SEPTEMBER 4, 2024

Leflambe continues: “In parallel, fraudsters leverage new technology very quickly (for instance, using deepfakes to circumvent liveness checks) and compliance teams must remain very vigilant about new controls not being outdated as a result.”

Compliance

Finovate

FEBRUARY 1, 2024

She is an expert in synthetic media, deepfakes, disinformation, cybersecurity, and the geopolitics of technology. Nina Schick, Author, Generative AI Expert, Founder at Tamang Ventures Schick is an author, advisor, and keynote speaker, specializing in how technology is transforming politics and society in the 21st century.

Metaverse

The Fintech Times

MARCH 6, 2024

In fact, 71 per cent of respondents named it as the number one issue, particularly in automated attacks and deepfake technologies. As fraud continues to evolve, stopping fraud earlier in the customer journey will become a priority. AI is expected to be the biggest challenge for fraud prevention in the coming months.

AI

PYMNTS

JANUARY 13, 2020

Worse by far are the massive consumer data breaches that continue flooding the Dark Web with fresh identities for sale – over four billion consumer records were exposed in the first half of 2019 – with no end in sight. It’s not all good news. Consumers are hardly alone in this. A Crowded Field of Fakery.

EMV

Seon

SEPTEMBER 28, 2023

Key Topics for a Security Awareness Program A security awareness program should focus on strong, up-to-date cybersecurity compliance, equipment, and measures and ensure a level-headed and well-informed workforce. Combining training with post-training tests promotes continuous education and improvement.

Security

The Fintech Times

DECEMBER 5, 2024

Michael Bruemmer, vice president of Global Data Breach Resolution at Experian To combat this evolving reality, nation-states and government agencies could move to dynamic identification that will replace static driver’s licenses and social security cards with dynamic PII that continually changes like an online 3D barcode used for event tickets.

Data Breach

CB Insights

MAY 3, 2018

You’ll learn about cybersecurity trends to watch and high-momentum startups with the potential to shape the future of security. The term deepfake first appeared on Reddit when an anonymous user known as “deepfakesapp” released the first version of the technology in December 2017.

Bots

The Fintech Times

NOVEMBER 19, 2024

Identity fraud across the Asia Pacific region (APAC) continues to rise, driven by increasingly sophisticated fraud tactics and the more widespread use of Fraud-as-a-Service (FaaS), according to the latest report from full-cycle verification platform, Sumsub.

Deepfake

The Fintech Times

FEBRUARY 12, 2025

“I could spot an AI deepfake easily.” Both US and UK consumers were tested, being told to examine a variety of deepfake content, including images and videos. “And even when people do suspect a deepfake, our research tells us that the vast majority of people take no action at all.

Deepfake

The Fintech Times

MAY 8, 2025

According to the report, 44 per cent of financial professionals report that fraudelent schemes use deepfakes , and 56 per cent of professionals cite social engineering, a set of manipulative tactics used by fraudsters to exploit human psychology and trick individuals into revealing sensitive information, as another significant tactic powered by AI.

AI