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Cyber Threats Surge in India’s Financial Sector

Fintech News

Attack vectors across the banking, financial services and insurance industry operations, Source: Digital Threat Report 2024, CERT-In, CSIRT-Fin and SISA Phishing attacks surge In H1 2024, cybersecurity firm Kaspersky recorded more than 135,000 phishing attacks targeting Indias financial sector. billion) in 2024 alone.

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Deepfake Dangers Escalate: AuthenticID Unveils Troubling Trends in 2025 Fraud Report

The Fintech Times

The report highlights a 76 per cent surge in phishing attempts and a 42 per cent increase in fake IDs and suspicious biometric transaction detections, signaling a shift towards more sophisticated fraud methods. The use of deepfake technology and generative AI is also on the rise, compounding the threat range.

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

The Fintech Times

“Using AI-driven tactics such as deepfake selfies and synthetic identities, organised fraudsters are testing traditional security measures like never before. It says future-proofing means adopting AI-driven validation and multi-layer defences to combat deepfakes, synthetic identities, and emerging threats.

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Intergiro Bolsters Embedded Finance Defences With SEON Partnership

The Fintech Times

AI-generated deepfakes , synthetic identities and hyper-targeted phishing attacks are just some of the cyberthreats on the rise. As a result of the partnership, SEON will proactively detect deepfake KYC attempts, synthetic identities, and mass-registration fraud before accounts are created through Intergiro.

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The growing threat of AI-enabled fraud

Neopay

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. Romance fraud: Deepfake images and videos help fraudsters create convincing personas to manipulate victims emotionally and financially.

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iProov Highlights Role of Biometrics in Combatting Deepfakes and Misused Generative AI

The Fintech Times

In the wrong hands, however, it can be incredibly harmful, especially with the emergence of deepfakes. A new survey from iProov , the biometric solutions provider, has revealed the attitudes on the threat of generative AI and deepfakes across the UK, US, Brazil, Australia, New Zealand and Singapore.

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Digital Document Forgeries Overtake Physical Forgeries For the First Time As Deepfakes on the Rise

The Fintech Times

In its sixth edition, the 2025 Identity Fraud Report found that attacks involving deepfakes happened every five minutes in 2024, and digital document forgeries increased by 244 per cent year over year. Another way fraudsters are abusing financial firms is through AI-assisted deepfakes. per cent of attacks globally).