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Tuum and Sumsub Team Up to Enhance Fraud Prevention for Financial Institutions

Finovate

The collaboration will help banks, fintechs, and financial institutions enhance fraud prevention without compromising the user experience. The integration of Sumsub’s compliance solutions will help financial institutions deal with the growing threat of fraud and financial crime. The company was founded in 2019.

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Sumsub Academy Launched, Providing Expert-Led Fraud Prevention Courses

Fintech News

Sumsub has launched Sumsub Academy, an educational initiative aimed at empowering professionals in compliance, risk, and fraud prevention. Additionally, businesses face growing financial risks, with the average cost per fraud event around USD $300,000. Deepfakes now account for 7% of all fraud cases.

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Financial Crime 360 state of the industry report 2025

The Payments Association

Questions address both immediate challenges (fraud prevention, regulatory compliance, technology readiness) and forward-looking opportunities (AI implementation, collaborative defence strategies, regulatory evolution). Coupled with a culture of innovation and trust, this drives effective, customer-centred fraud prevention."

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Identity Fraud Attacks on Social Media Rose by 27% in 2024 Alone, Reveals AU10TIX

The Fintech Times

Dan Yerushalmi , CEO of AU10TIX “FaaS has elevated cybercrime, enabling a whole cohort of the population to join in on global fraud by launching large-scale attacks involving up to over 8,000 incidents,” explained Dan Yerushalmi , CEO of AU10TIX.

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Intergiro Bolsters Embedded Finance Defences With SEON Partnership

The Fintech Times

A new partnership has been announced between Swedish embedded finance provider Intergiro and SEON , the digital fraud prevention and compliance firm, to improve security in the former’s embedded finance ecosystem and combat growing cyber threats.

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Security Bank Collaborates with Entrust to Enhance eKYC and Digital Onboarding

Finovate

. “Our solution helps Security Bank deliver the experience their customers expect, while maintaining the highest standards of security and fraud prevention.” The technology combines robust security features with advanced fraud detection capabilities including as deepfake detection.

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Navigating the rise of AI-enabled fraud

The Payments Association

With payment systems becoming more digital and interconnected, the risk of AI-driven fraud grows, urging payments firms to adopt cutting-edge solutions to protect themselves and their customers from these emerging threats. The increasing sophistication of AI-driven fraud presents significant financial, reputational, and operational risks.

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