The Fintech Times

FEBRUARY 3, 2025

Account takeover scams saw a dramatic increase of 250 per cent last year. Victims of these scams not only face financial losses, averaging about $180 per incident, but 40 per cent also suffer from subsequent identity theft. The use of deepfake technology and generative AI is also on the rise, compounding the threat range.

Deepfake 81

Deepfake Account Takeovers Identity Theft Scams 81

Fintech News

MAY 8, 2025

The surge of deepfakes The rise of AI has also led to a surge in deepfake attacks. The technology is enabling large scale impersonation scams, including executive-level business email compromise (BEC) attacks and misinformation campaigns. Losses are projected to reach INR 700 billion (US$8.3 billion) in 2024 alone.

Deepfake 120

Deepfake Data Breach MFA Phishing 120

Fintech News

JUNE 6, 2024

In recent years, the banking sector in the Association of Southeast Asian Nations (ASEAN) has witnessed a significant surge in scams and fraud activities. DBS isn’t the only bank making news for phishing scams. US$129,841). Losses exceeded S$13 million (US$9.59 Losses exceeded S$13 million (US$9.59

Scams 109

Scams Phishing Deepfake Verification 109

Fintech News

JANUARY 17, 2024

The battle against fraud and identity theft has taken on new dimensions and complexities in today’s increasingly digital world. This article will delve into the key trends shaping the fraud and identity landscape 2024, drawing insights from various sources, including SumSub, LexisNexis Risk Solution, Feedzai and Jumio.

Deepfake 125

Deepfake APACS Scams Authentication 125

Finovate

FEBRUARY 8, 2024

Corsound AI Corsound AI utilizes innovative technology to verify customers’ identities for financial institutions, leveraging over 200 patents to detect AI scams and voice fraud. Banks, credit unions, payment providers, and small-and-medium-sized businesses.

Payment APIs and Integration 59

Payment APIs and Integration Identity Theft Deepfake AI 59

Seon

JUNE 27, 2024

How can the technology driving novel and increasingly sophisticated fraud activities be harnessed to combat scams and cyber risks cost-efficient and effectively? AI can generate synthetic identities, create deepfakes and lead other persuasive and difficult-to-detect social engineering tactics.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

The Fintech Times

JANUARY 17, 2024

Risks include deepfakes, sophisticated cyber hacks, and the use of generative AI to create malware. 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.

AI 59

AI Financial Crimes Crime Security 59