Finovate

APRIL 9, 2025

“Security Bank is transforming digital banking in the Philippines, and we’re proud to support their vision with advanced identity verification that makes onboarding both more secure and convenient,” said Entrust Regional VP of Sales, APAC, Harvinder Singh. Entrust came out of the gates strongly in 2025.

Security

Fintech News

JUNE 9, 2025

This Case Management feature is integrated across Sumsub’s identity verification, anti-fraud, and anti-money laundering solutions, and is available for immediate deployment without requiring complicated setup procedures. This rise is attributed to the growing use of deepfakes, fraud-as-a-service operations, and fast-changing fraud typologies.

Financial Crimes

Fintech News

JUNE 11, 2025

At the centre of this threat is Grey Nickel , a sophisticated cybercriminal group using deepfakes, synthetic identities, and AI-powered attack tools to breach banks, crypto exchanges, and digital payment platforms. Consider Hong Kong, where in early 2024 a deepfake scam tricked a corporate employee into transferring USD $25.6

Crime

Finovate

MARCH 19, 2025

Core banking provider Tuum and verification platform Sumsub announced a partnership this week. This includes a global, fourfold increase in AI-driven deepfake scams. Photo by Marlene Leppnen The post Tuum and Sumsub Team Up to Enhance Fraud Prevention for Financial Institutions appeared first on Finovate. Myles Bertrand is CEO.

Fraud Prevention

The Fintech Times

MARCH 12, 2025

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.

Embedded Finance

Fintech News

APRIL 6, 2025

A significant four-fold surge in deepfakes worldwide from 2023 to 2024 further underscores the increasing role of AI in fraud. Deepfakes now account for 7% of all fraud cases. The initial course offerings will cover Business Verification Fundamentals, Transaction Monitoring, Travel Rule, and how to collect data for successful KYC.

Fraud Prevention

Fi911

JUNE 9, 2025

These attacks often coincide with travel schedules or major transactions when verification becomes difficult. Post-incident analysis must drive systematic improvements. Future-Proofing Against Evolving BEC Threats Deepfake technology brings new challenges. Voice cloning and video manipulation will make verification harder.

Email Compromise

Finovate

JULY 16, 2025

Identity verification becomes a battleground With rising fraud, easy-to-create deepfakes, and an increase in embedded finance, financial institutions are shifting from one-time identity checks to continuous, context-aware identity verification. Banks that can’t meet those expectations risk losing ground to more nimble players.

ISO 20022

Finovate

JUNE 12, 2025

Identity verification innovator ID-Pal has unveiled its reusable KYC solution, ID-Pal Once. The new offering streamlines the verification process, enabling users to complete identity verification as much as 5x faster. AI-powered identity verification specialist ID-Pal has introduced its reusable KYC solution ID-Pal Once.

Verification

The Payments Association

JUNE 11, 2025

To keep up, organisations need to move away from simple, KYC-focused verification and towards a proactive, multi-layered approach." These post-purchase fraud types cannot be stopped in real-time, creating operational detection gaps that fraudsters exploit once they’ve gained platform access.

Risk

Finovate

MAY 28, 2025

The partnership will combine Daon’s identity verification and biometric authentication technology with Giesecke+Devrient’s digital security product suite. Photo by Andreas Leindecker The post Daon Announces Strategic Partnership with Giesecke+Devrient appeared first on Finovate.

Fraud Prevention

Finovate

APRIL 22, 2025

Herd Security Herd Security is a security awareness platform designed to train users on the dangers of deepfakes through modules and AI-based simulations. Features Provides engaging, micro-based cyber training Delivers user metrics proving behavior change Offers patented voice deepfake defense Who’s it for?

Credit Union

The Fintech Times

DECEMBER 10, 2024

Founded in Australia and launched commercially in 2018, IDVerse uses AI to combat fraud and deepfakes. Additionally, the expansion of LexisNexis Risk Solutions’ global approach to identity verification will enable stronger defences against AI-generated fraud. AI-powered document verification represents this kind of balance.”

Risk

Finovate

DECEMBER 11, 2024

The acquisition will enhance LexisNexis Risk Solutions’ ability to combat emerging threats such as AI-generated fraud and deepfakes. Additionally, with consumer consent, IDVerse applies biometric algorithms for identity verification and liveness detection to identify potential fraud. Terms were not disclosed.

Risk

The Fintech Times

JULY 3, 2025

Biometric identity verification firm iProov has appointed Alex Pearson as chief revenue officer. Identity verification platform IDnow has partnered with biometric authentication provider Keyless to enable ongoing user authentication beyond onboarding. Joining her are Agustín Carstens and Sanjiv Bajaj.

FinTech

Fintech Finance

MARCH 4, 2025

As digital payments increase post-COVID and scammers implement new solutions such as artificial intelligence (AI), the report takes a look at how regulators around the world are seeking to combat fraud. The post Vixio Releases APP Fraud Outlook Report appeared first on FF News | Fintech Finance.

Fraud Prevention

The Fintech Times

JULY 31, 2025

Almost half (47 per cent) of respondents raised concern that fraudsters are using AI and deepfake tools to create fake identity documents to fool apps into verifying a user as being over the age of 18. “Like most new technologies, user confidence should increase the more that people get used to the new process. .

Verification

Finovate

JULY 30, 2025

The move also comes at a time when banks are fighting deepfake identity images at onboarding, struggling to distinguish synthetic identities created by AI from real images, and facing pressure to secure machine-to-machine communications.

Acquirers

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. Why Selfie Verification?

Deepfake

Fintech News

JULY 24, 2024

A recent study by Jumio , a provider AI-driven identity verification and compliance solutions, has found that a significant majority of Singapore consumers are concerned about the impact of deepfakes on the upcoming elections. This approach mirrors South Korea’s recent 90-day ban on deepfakes before its April 2024 election.

Deepfake

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. ” says Wells.

Deepfake

Fintech News

JUNE 26, 2024

A recent study by Jumio , a provider AI-driven identity verification and compliance solutions, has found that 78% of consumers in Singapore are ready to change banks due to inadequate fraud protection. The increasing sophistication of fraud tactics, such as deepfakes and voice cloning, has heightened these concerns.

Deepfake

Fintech News

MAY 14, 2024

However, this powerful technology has also been exploited by malicious actors to create deepfakes – highly convincing simulations of individuals saying or doing things they never actually did. Deepfakes have since evolved into a formidable challenge for conventional identity verification methods.

Deepfake

The Fintech Times

FEBRUARY 9, 2024

Easily accessible and criminally weaponised generative AI tools are increasing the need for more secure remote identity verification. It saw a 672 per cent increase from H1 2023 to H2 2023 in the use of deepfake media such as face swaps deployed alongside metadata spoofing tools.

Deepfake

Fintech News

FEBRUARY 18, 2024

But with innovation comes risk – especially around identity verification and fraud prevention. By implementing Sumsub’s no-code identity verification platform, dtcpay simplified Know Your Client (KYC) and onboarding to provide a smooth, secure user experience. Singapore is one of the world’s leading hubs for fintech innovation.

Verification

The Fintech Times

AUGUST 14, 2024

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.

Deepfake

The Fintech Times

MAY 17, 2024

The rapidly increasing prevalence of AI-generated content and deepfakes has left many questioning everything they see online. In fact, as much as 72 per cent of consumers worry on a day-to-day basis about being fooled by a deepfake into handing over sensitive information or money.

Deepfake

The Fintech Times

NOVEMBER 20, 2024

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. ” Struggles with onboarding Digital identity verification is a vital part of the onboarding process.

Deepfake

Neopay

FEBRUARY 27, 2025

The financial sector is facing an unprecedented surge in AI-driven fraud, with deepfake-related attacks increasing by a staggering 2,137% over the past three years. of all fraud attempts detected in the financial sector now involve AI-generated forgeries, with deepfakes leading the charge. According to the research, 42.5%

Deepfake

Fintech News

SEPTEMBER 9, 2024

Battling the growing threat of deepfakes with digital identity But really, how important is digital identity to a flourishing digital banking ecosystem? ” Featured image credit: edited from freepik The post How Digital Identity is Powering Southeast Asia’s Financial Revolution appeared first on Fintech Singapore.

Deepfake

Fintech News

JULY 10, 2024

Sumsub, a global verification provider, has announced strategic partnerships with several resellers in Southeast Asia including Nexus Technologies in the Philippines, PT Secure Pasifik Teknologi in Indonesia, and Spectrum Edge in Malaysia.

Identity Theft

Fintech News

MARCH 20, 2024

Sumsub, a global verification provider, is addressing the sharp increase in fraud networks in the Asia-Pacific (APAC) region with its enhanced Fraud Prevention Solution. Fraud networks, however small they may seem right now, will gain prominence, just like AI-powered deepfakes. said Pavel Goldman-Kalaydin, Head of AI/ML at Sumsub.

APACS

Fintech News

JANUARY 17, 2024

Banks need advanced identity verification and authentication techniques to counter synthetic fraud, including document verification, identity graph analysis, and behavioural biometrics. Ongoing behavioural monitoring post-onboarding also helps spot fraudulent accounts created using synthetic identities.

Deepfake

Fintech News

FEBRUARY 19, 2025

LexisNexis Risk Solutions, part of RELX, has completed its acquisition of IDVerse , an AI-driven identity verification and fraud detection provider. IDVerse, founded in Australia in 2018, specialises in document authentication and biometric identity verification. The terms of the deal were not disclosed.

Risk

Finovate

JUNE 11, 2024

An injection attack occurs when a fraudster injects a deepfake– which could be a synthetic document, video, facial image, or audio representation– into an identity verification workflow to spoof the system. This works to bypass traditional fraud detection and identity verification methods.

AI

Fintech News

MARCH 12, 2024

Sumsub, a global verification provider, has integrated with Chainalysis, a blockchain data platform. This trend is underscored by Sumsub’s reports, which note a 128 percent increase in deepfake incidents in 2023, with the Asia-Pacific region experiencing a 1530 percent surge.

Transactions

Fintech News

MARCH 26, 2024

Sumsub, a global verification and compliance provider, announced its partnership with crypto exchange Binance to integrate its Travel Rule solutio n through the Global Travel Rule (GTR) Alliance.

Travel Rule