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." This sustained volume of fraud is eroding confidence among UK businesses, with 57% of businesses reporting increased fraud losses, as trust in existing customer verification methods falls from 83% to 68%.

Risk 88

Risk Fraud Prevention Fraud Detection Payment APIs and Integration 88

Fintech Finance

MARCH 4, 2025

For instance: UK: PSRs APP fraud reimbursement rules EU: Verification of Payee (VoP) initiative Australia: Scams Prevention Framework Regulators around the world are taking different approaches to tackling the issue, and it remains to be seen which will be most effective, explains John Gidla, Head of Payments Compliance at Vixio.

Fraud Prevention 52

Fraud Prevention Deepfake Scams Fraud Detection 52

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. Binance, which has been a client of Sumsub since 2021, aims to bolster its international compliance efforts through this alliance.

Travel Rule 122

Travel Rule Rules Compliance Transactions 122

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 122

Verification Travel Rule Multi-Currency Compliance 122

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 116

Transactions Security Deepfake Travel Rule 116

The Fintech Times

MARCH 28, 2024

Sumsub , a global full-cycle verification and compliance provider, has completed the integration of its Travel Rule solution with Binance , the crypto exchange platform, through the Global Travel Rule (GTR) Alliance.

Travel Rule 64

Travel Rule Rules Interoperability Verification 64

Finovate

MARCH 13, 2024

Verification provider Sumsub announced a partnership with blockchain data platform Chainalysis this week. Full-cycle verification provider and FinovateEurope alum Sumsub announced an integration with blockchain data platform Chainalysis this week. Sumsub made its Finovate debut at FinovateEurope 2020 in Berlin, Germany.

Verification 59

Verification Blockchain Travel Rule Regulatory Compliance 59

The Payments Association

MAY 7, 2025

1) AI-driven fraud and deepfakes Fraudsters are increasingly leveraging Artificial Intelligence (AI) to conduct highly convincing scams. These sophisticated attacks are designed to deceive even the most cautious businesses and consumers, from AI-generated phishing emails to deepfake videos and voice impersonations. How avoided.io

Risk 88

Risk Disputes Debit Card Cross-Border 88

Finovate

MARCH 29, 2024

AU10TIX expands its Digital ID identity verification solution Israel-based identity verification and management specialist AU10TIX announced the expansion of its Digital ID solution this week. Serving as a verification hub for businesses, AU10TIX’s Digital ID solution enables faster and more accurate identity verification.

Verification 69

Verification Privacy AML Cross-Border Payments 69

The Fintech Times

OCTOBER 31, 2024

LSEG Risk Intelligence is launching Global Account Verification, which checks payee and account details match before transfers are confirmed, as well as Document and Biometric Verification, which uses AI and deep learning to accurately conduct identity checks.

Mitigation 59

Mitigation Risk Global Payments Deepfake 59

The Payments Association

MARCH 10, 2025

Industries becoming higher risk due to stricter compliance and monitoring Cryptocurrency & Financial Services (6051, 6211, 6012): AML rules and KYC verification tightening. AI-generated content & online services (5815, 5816, 7372): Rising fraud from deepfake content and fake accounts.

Fraud Prevention 88

Fraud Prevention Processors Disputes Compliance 88

Finovate

FEBRUARY 8, 2024

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.

Payment APIs and Integration 59

Payment APIs and Integration Identity Theft Deepfake AI 59

Seon

SEPTEMBER 20, 2024

For instance, fraudsters now leverage innovative technologies to create deepfakes, bypassing traditional identity verification methods like document ID checks and biometrics. Additionally, customer education remains a hurdle, with some customers perceiving newer security measures, like selfie verification, as potential scams.

Risk 52

Risk Fraud Prevention Risk Management Deepfake 52

The Payments Association

APRIL 7, 2025

It is also good to see so much investment in AI, digital ID verification, and technology to automate processes, as there is a lot of opportunity here for streamlining operations and identifying suspicion more effectively. Technological Investments Firms are investing heavily in advanced technologies to combat financial crime.

Financial Crimes 88

Financial Crimes Crime Fraud Prevention AML 88

Seon

MAY 23, 2024

This enables the fraudster to intercept authentication messages, bypassing security measures that rely on SMS verification. What was heralded as high security due to a reliance on unique biological characteristics is now facing challenges from emerging fraud technologies such as spoofing and deepfakes.

Fraud Prevention 52

Fraud Prevention Deepfake Fraud Detection Authentication 52

The Fintech Times

AUGUST 13, 2024

Fraudsters are leveraging artificial intelligence (AI) tools like voice cloning and deepfakes to create highly convincing fake audio or video messages to deceive victims into transferring money or revealing sensitive information. This leaves many vulnerable to sophisticated AI-powered attacks like deepfakes and voice cloning.

AI 59

AI Fraud Detection Fraud Prevention Phishing 59

Fintech News

OCTOBER 28, 2024

Fighting deepfakes and fraudulent identities – Jumio’s holistic approach to building identity trust” with “Jumio Delivers Adaptive Verification as AI Fraud Projected to Hit US$40 Billion. Hong Kong police recently arrested 27 individuals linked to a deepfake scam that swindled victims out of $46 million.

Verification 124

Verification Deepfake AI Identity Theft 124

Fintech News

APRIL 8, 2025

These callers weave convincing stories designed to trick individuals into revealing sensitive information or transferring money under false pretences, often using fake verification interfaces or documents like the ones pictured in police alerts. Coupled that with AI generated deepfake videos, you’re in for a real treat.

Scams 102

Scams Authorization Legal Framework Deepfake 102

Evolve Payment

FEBRUARY 17, 2025

Special Reserves: Some processors have their own unique reserve account types with custom rules, features, and arrangements that go beyond the pre-determined types above. This reserve provides immediate risk protection for the processor before releasing full access to funds. What are the benefits of a reserve account?

Accounts 52

Accounts Processors Risk Caps 52