Fintech News

MAY 8, 2025

The surge of deepfakes The rise of AI has also led to a surge in deepfake attacks. These advanced impersonations, which use convincing AI-generated audio and video, trick users into revealing multi-factor authentication (MFA) codes or approving unauthorized authentication requests. billion) in 2024 alone.

Deepfake 115

Deepfake Data Breach MFA Phishing 115

Fintech News

MARCH 19, 2024

This collaboration will see Accredify integrating Okta’s advanced identity management solutions, including Single Sign-On (SSO) and Multi-Factor Authentication (MFA), to benefit its clientele.

MFA 106

MFA Deepfake Credential Privacy 106

The Payments Association

OCTOBER 22, 2024

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. While fraudsters use it to create deepfakes and manipulate unsuspecting victims, financial institutions can also harness AI to combat these threats.

Rules 88

Rules Fraud Prevention Caps Deepfake 88

The Fintech Times

MAY 24, 2024

The urgency to manage AI-related identity risks, including deepfakes , is low in the UK with around one third (35 per cent) already having a strategy in place to manage threats of this nature. Only 45 per cent of global organisations have implemented multi-factor authentication (MFA). respondents saying the same.

Authentication 59

Authentication MFA Deepfake AI 59

The Payments Association

APRIL 7, 2025

The existing technical mechanisms, like MFA and biometrics, will not be able to prevent this type of fraud. AI-driven fraud is on the rise, with identity deepfakes identified by 56.29% as a significant threat and automated personal data collection highlighted by 32.45% of respondents.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention AML 88

Seon

SEPTEMBER 28, 2023

Password management : Using multi-factor authentication (MFA) and password managers. Future security measures, such as generative AI and deepfake detection – particularly given that biometric authentication will become increasingly challenged by AI-focused fraudsters in the years to come.

Security 52

Security Phishing Best Practices Data Breach 52

The Payments Association

DECEMBER 10, 2024

Understanding AI-enabled fraud As fraudsters invest in more sophisticated technology, including deepfakes, synthetic identities and automated phishing, the need for payments firms to adopt better AI-driven fraud detection systems grows. fingerprints, facial recognition), and behavioural biometrics (e.g.,

AI 88

AI Fraud Detection Fraud Prevention Deepfake 88