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The platform risk paradox: Managing digital commerce fraud at scale

The Payments Association

AI-driven scams leverage sophisticated attacks from phishing emails to deepfake videos and voice impersonations. Integration with multiple data providers enhances fraud analysis across UK market conditions, creating comprehensive risk assessment capabilities that scale with platform growth.

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Authenticity in the Era of Deepfakes: The Multi-Layered ZOLOZ eKYC Approach

Fintech News

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 119
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Deepfake fraud has increased by 2,137% over the last 3 years

Neopay

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%

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Sumsub Combats Fraud Networks in APAC With Upgraded Solution

Fintech News

Fraud networks, however small they may seem right now, will gain prominence, just like AI-powered deepfakes. In Myanmar and other Southeast Asian countries, cyber scam rings target victims with fraudulent schemes like fake jobs or investments. The damage of fraud rings is much more significant than that of individual scammers.

APACS 111
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FinovateEurope 2024 Sneak Peek Series: Part 4

Finovate

Features Provides an innovative method to detect deepfakes in call centers, with or without DB Delivers a revolutionary way to prevent identity theft Offers a unique voice-face matching technology Who’s it for? Banks, credit unions, payment providers, and small-and-medium-sized businesses.

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Socure and Trustly Partner to Offer Industry-First Streamlined Onboarding and Open Banking Payments Process for Merchants and Fintechs

Fintech Finance

Deepfakes, synthetic identities and account takeover fraud are growing threats that require advanced identity proofing and risk assessment. Socure’s predictive machine learning models coupled with Trustly’s Open Banking authentication and data mitigate these emerging risks.

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AI Merchant Payment Processing: The Battle for a Secure Processor

Segpay

High-risk classified businesses should partner with a PSP that understands high-risk business from a regulatory and a processing perspective. High-Risk Classification: A Core Concern Regulators and card schemes classify businesses based on perceived risk, assessing the likelihood of chargebacks, fraud, and other liabilities.