Fintech News

JANUARY 17, 2024

The digital economy in Southeast Asia, projected to hit US$100 billion, is a double-edged sword. The menace of deepfakes and disinformation The exponential growth of APAC’s digital economy also enables new disinformation threats. It brings prosperity but also makes the region a cyberattack hotspot.

Deepfake 126

Deepfake APACS Scams Authentication 126

Fintech News

JUNE 30, 2024

Usage of gen AI in Asia Pacific, Source: Deloitte Gen AI Survey, 2024 Developing economies in APAC are leading gen AI adoption with rates about 30% higher than developed economies. Additionally, employees from developing economies were found to be more enthusiastically embracing gen AI. trillion to US$4.4

AI 111

AI APACS Deepfake Economy 111

Fintech News

MARCH 12, 2024

This trend is underscored by Sumsub’s reports, which note a 128 percent increase in deepfake incidents in 2023, with the Asia-Pacific region experiencing a 1530 percent surge. Together, we are striving for the cryptocurrency economy to flourish,” added Ian Andrews, Chief Marketing Officer at Chainalysis.

Transactions 116

Transactions Security Deepfake Travel Rule 116

Fintech News

JULY 10, 2024

As Southeast Asia’s digital economy continues to grow, so do opportunities for fraudsters. Sumsub reports significant increases in fraud, particularly in deepfakes, across the Philippines, Indonesia, and Malaysia. These partnerships aim to enhance fraud prevention efforts and strengthen the business environment in the region.

Identity Theft 111

Identity Theft APACS Deepfake Money Laundering 111

The Fintech Times

MAY 16, 2024

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. As deepfakes proliferate, a trickle of lawsuits has the potential to become a flood – and one which absolutely could sink the banks. Michael Marcotte, CEO of artius.iD

Deepfake 69

Deepfake Security Cybersecurity Procedures 69

Finovate

MARCH 29, 2024

In today’s first conversation, Code & Capital talks with Generative AI expert and founder of Tamang Ventures Nina Schick about the way that AI could fundamentally reshape industries and economies this century the way the Internet did decades ago.

AI 59

AI Deepfake Fraud Detection Advisors 59

Fintech Finance

FEBRUARY 20, 2025

The rising sophistication of AI-generated deepfake images and videos poses an increasing risk to the payments industry, making advanced fraud detection more critical than ever. The move comes as Deloittes Center for Financial Services warns that fraud losses driven by generative AI could reach $40 billion in the US alone by 2027.

AI 52

AI Deepfake Verification Fraud Detection 52

The Fintech Times

MAY 14, 2024

Not only have we been able to build a platform for students to learn about blockchain jobs and technologies, but we have been able to conduct productive research in deepfake analysis using blockchain technologies,” said Bernadin.

Blockchain 117

Blockchain Innovation Research Deepfake 117

Fintech Finance

APRIL 28, 2025

With this launch, Checkout.com is reinforcing its commitment to digital identity security and reflects a broader investment in building trust throughout the digital economy. The feature can be triggered at any point in the user journey, and is fully automated, removing the need for passwords, one-time codes, or manual review.

Authentication 59

Authentication Verification Deepfake Returns 59

Fintech News

MARCH 5, 2024

Singapore witnessed a staggering 33% rise in deepfakes in Q2 2023, highlighting a global escalation of this threat. As we transition into the digital era of money movement, programmable money emerges as a transformative force in the financial industry, especially within emerging economies.

APACS 111

APACS Embedded Finance Financial Inclusion CBDC 111

Fintech News

FEBRUARY 10, 2025

trillion in 2024, up 56% from the previous year, the shadow economy of digital crime has grown increasingly sophisticated. They are currently leveraging AI-driven chatbots and deepfake technology to create more convincing frauds. While the global crypto market continues to boom, with transaction volumes surpassing USD $10.6

Crime 95

Crime Ransomware Scams Phishing 95

Fintech News

MARCH 5, 2024

Singapore witnessed a staggering 33% rise in deepfakes in Q2 2023, highlighting a global escalation of this threat. As we transition into the digital era of money movement, programmable money emerges as a transformative force in the financial industry, especially within emerging economies.

APACS 98

APACS Embedded Finance Financial Inclusion CBDC 98

The Fintech Times

JUNE 15, 2024

Labour will ensure the safe development and use of AI models by introducing binding regulation on the handful of companies developing the most powerful AI models and by banning the creation of sexually explicit deepfakes.” Here’s what fintechs had to say about the manifesto. .

FinTech 59

FinTech Money Laundering Financial Crimes Crime 59

PYMNTS

MARCH 29, 2019

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. “We try to make the process as seamless as possible by having an operator available to talk to you while … we’re looking at your documents,” Barrie said. .

Security 40

Security Verification Account Takeovers Deepfake 40

CB Insights

MAY 3, 2018

People have already begun to make pornographic videos, known as deepfakes (a portmanteau of “deep learning” and “fake”), using software that superimposes celebrities’ faces onto adult film stars. Deepfake Society bans pornography (it has sister sites that do not).

Bots 78

Bots Deepfake Phishing AI 78

The Fintech Times

NOVEMBER 19, 2024

The verification platform also recorded significant surges in identity fraud in: Singapore (207 per cent) Indonesia (205 per cent) Thailand (201 per cent) Meanwhile, deepfake fraud saw a 194 per cent YoY spike in APAC and increased four times globally, now making up seven per cent of all fraud attempts in 2024.

Deepfake 64

Deepfake APACS Account Takeovers Identity Theft 64

Fintech News

APRIL 9, 2025

Average deepfake fraud growth by region, 2024 As economies across APAC continue to digitalise, the threat of identity fraud will only escalate. Average deepfake fraud growth by region, 2024 As economies across APAC continue to digitalise, the threat of identity fraud will only escalate.

APACS 107

APACS Deepfake Identity Theft Account Takeovers 107

Fintech Finance

JANUARY 29, 2025

Fraud rates have taken off globally, particularly in Europe, where deepfake fraud incidents have risen by 142% between 2023 and 2024. Sumsubs internal data shows that deepfakes are present in 7% of all fraud cases globally.

Deepfake 81

Deepfake Transactions Verification Payments 81

Fintech News

DECEMBER 15, 2024

Since the pandemic, fraud and scams have surged significantly, with mature markets like Singapore and Hong Kong facing increasingly complex challenges, including authorised push payment fraud and deepfakes. Globally, scams caused an estimated US$1.026 trillion in losses, equal to 1.05% of the global gross domestic product (GDP).

Scams 116

Scams Deepfake Fraud Prevention Risk 116

The Fintech Times

FEBRUARY 22, 2025

The move is part of efforts to improve security in the payments sector, particularly against the rising threat of AI-generated fraud like deepfakes. ID-Pal, a provider of AI-powered identity verification solutions, has joined The Payments Association , an industry group that focuses on payment technologies.

AI 69

AI Deepfake Verification Payments 69

Fintech Finance

APRIL 29, 2025

With this launch, Checkout.com is reinforcing its commitment to digital identity security and reflects a broader investment in building trust throughout the digital economy. The feature can be triggered at any point in the user journey, and is fully automated, removing the need for passwords, one-time codes, or manual review.

Authentication 59

Authentication Verification Deepfake Returns 59

The Fintech Times

OCTOBER 30, 2024

Novo expands its offering for solopreneurs As the solopreneur economy grows, Novo , a banking platform focused on small businesses and self-employed professionals, has introduced tools to address this market’s financial challenges. “ We’re excited to see the positive impact this will have on merchants worldwide.”

Deepfake 59

Deepfake Verification BNPL Payment APIs and Integration 59

Fintech News

JANUARY 12, 2025

Philipp Pointner, Chief of Digital Identity, Jumio Corporation, expects fraud to evolve into an industrial-scale issue, with attackers leveraging advanced AI tools to create fake identities and deepfakes at an unprecedented scale.

APACS 98

APACS FinTech Distributed Ledger Technology (DLT) AI 98

Finovate

MARCH 24, 2025

Todays economy is so interconnected, and this means that financial institutions must constantly shift to address challenges such as sanctions, emerging threats, and evolving compliance requirements. At the same time, jurisdictional differences make compliance incredibly burdensome in todays global economy.

Compliance 64

Compliance Innovation Financial Crimes FinTech 64