Neopay

JANUARY 22, 2025

According to a recent report by the National Crime Agency (NCA), GenAI represents one of the most substantial threats to the fraud landscape today. 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.

AI

The Payments Association

JUNE 11, 2025

Julia Bond Business development director, UK & EU, Sumsub "Security shouldn't equate to unnecessary hurdles during the checkout process. These attacks inject malicious code into checkout processes to harvest credit card data, with threat actors earning $1,950-$2,400 per month per infected site. CAGR from 2025 to 2030.

Risk

The Payments Association

JUNE 16, 2025

Meanwhile, fraud techniques have continued to evolve at pace. In the past five years, the UK has seen a sharp increase in the sophistication of APP fraud, driven by innovations such as deepfake technology, real-time payment abuse, and social engineering. Criminals are adapting quickly, often outpacing defensive responses.

Scams

Finovate

DECEMBER 11, 2024

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.

Risk

Fintech News

APRIL 7, 2024

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. Economic Ramifications of Deepfake Scams The global impact of impersonation scams can be far-reaching, and expensive.

Deepfake

Evolve Payment

OCTOBER 22, 2024

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.

Deepfake

Fintech News

NOVEMBER 6, 2024

In response to the growing threat of deepfake technologies, Ant International has also developed an advanced anti-deepfake electronic Know Your Customer (e-KYC) tool. This system, which has a detection success rate exceeding 99%, was developed over two years to counter AI-assisted fraud and bolster transaction security.

Cross-Border

Finovate

JUNE 11, 2024

Identity proofing and fraud detection company AuthenticID launched a new solution today to detect deep fake and generative AI injection attacks. This works to bypass traditional fraud detection and identity verification methods.

AI

The Payments Association

APRIL 2, 2025

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. “Model-based approaches for fraud detection have been around for a long time.

AI

The Payments Association

MAY 7, 2025

This article explores the top 5 fraud trends impacting high-risk merchants in 2025 and how innovative solutions like avoided.io can safeguard your business with real-time chargeback prevention and fraud management. helps: Near real-time fraud detection: By leveraging combined alerts from Ethoca and Verifi, avoided.io

Risk

The Fintech Times

SEPTEMBER 11, 2024

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

Finovate

AUGUST 14, 2024

The battle against fraud is a never-ending one. 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. Johnny Ayers is Socure’s founder and CEO.

Credential

The Payments Association

OCTOBER 22, 2024

According to the Payment Systems Regulator (PSR) , the volume of APP fraud cases rose by 12% last year. 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.

Rules

Finovate

SEPTEMBER 18, 2024

“This strategic partnership will allow CLOWD9 clients to access both a compelling end-to-end identity solution and an AML screening solution with advanced AI-fraud detection capabilities,” CLOWD9 CEO and Co-Founder Suresh Vaghjiani said.

Fraud Detection

Fintech Finance

FEBRUARY 20, 2025

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. 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.

AI

Fintech Finance

FEBRUARY 29, 2024

This integration allows merchants, especially in industries that require robust KYC such as investing, gaming, trading and financial services, to simplify their customer onboarding process while guaranteeing fast payments. Trustly, with direct banking integrations, provides instant Open Banking payments with transaction guarantees.

Fraud Prevention

Fintech News

FEBRUARY 18, 2024

This system was pivotal for refining the onboarding process, ensuring businesses could engage in transactions smoothly and with robust security. With rapid advancements in its multi-currency swaps and crypto payment services, dtcpay had to future-proof and automate verification processes. Why Sumsub?

Verification

The Fintech Times

AUGUST 13, 2024

Now we are protecting over 300 million customers and processing billions of transactions per year across nine countries. Since securing a Series A funding round in November 2023, Lynx Tech introduced its AI-driven software solutions to solve clients’ most significant fraud and financial crime challenges.

AI

The Fintech Times

DECEMBER 21, 2023

First is an expected uptick in utilising AI for more complex processes, like data analysis and fraud detection. Every fintech will have to review its compliance processes to support and ensure a smooth transition.”

Cross-Border Payments

Finovate

FEBRUARY 29, 2024

Specifically, Socure’s ID+ platform, leveraging AI-driven predictive analytics, will be integrated with Trustly’s direct banking integration Pay By Bank offering, enabling merchants to seamlessly onboard users and process payments in a single unified process.

Verification

Seon

MAY 23, 2024

Historically, companies have resorted to a patchwork of point solutions and variegated tools across a fraud-fighting tech stack, leading to fragmented data and operational inefficiencies from switching from one solution to the subsequent and obfuscated risk views.

Fraud Prevention

Finovate

MARCH 13, 2024

Sumsub’s Transaction Monitoring solution is designed to help firms deal with the estimated $48+ billion in total fraud losses last year alone. The solution gives fraud and risk teams a single tool to manage the transaction monitoring process with provides fewer false positives and more efficient case management.

Verification

Seon

JUNE 27, 2024

Read More Advancements in AI Technology Innovations in machine learning, natural language processing and data analytics have led to the development of sophisticated algorithms capable of analyzing vast amounts of data in real time, identifying patterns and making predictions with remarkable accuracy. Learn More Sources : 1.

Cybersecurity

Seon

SEPTEMBER 20, 2024

The rise of artificial intelligence (AI), machine learning (ML) and automation have all added new layers of complexity to fraud prevention at an unprecedented scale. For instance, fraudsters now leverage innovative technologies to create deepfakes, bypassing traditional identity verification methods like document ID checks and biometrics.

Risk

The Payments Association

APRIL 7, 2025

Continued investment in innovative fraud detection technologies and adaptive regulatory frameworks is essential to stay ahead of evolving financial crime threats. A majority are focusing on machine learning and AI, cited by 58.94%, along with digital identification verification systems (45.70%) and automation of key processes (44.37%).

Financial Crimes

Seon

JUNE 7, 2024

Add in the emergence of deepfake technologies that allow fraudsters to impersonate individuals through manipulated videos or audio, adding an extra layer of authenticity to deceitful tactics, and the landscape of fraud becomes even more difficult to parse.

AI

PYMNTS

SEPTEMBER 11, 2019

STACK implements various behind-the-scenes procedures — tokenization, identity verification and automated fraud detection, for example — and provides customer-facing options that give users a sense of control and transparency. Applicants who present low risk for money laundering or fraud are typically processed within two minutes.

Security

Fintech News

OCTOBER 28, 2024

Fighting deepfakes and fraudulent identities – Jumio’s holistic approach to building identity trust” with “Jumio Delivers Adaptive Verification as AI Fraud Projected to Hit US$40 Billion. Hong Kong police recently arrested 27 individuals linked to a deepfake scam that swindled victims out of $46 million.

Verification