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 69

Deepfake Phishing Account Takeovers Scams 69

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. In Myanmar and other Southeast Asian countries, cyber scam rings target victims with fraudulent schemes like fake jobs or investments.

APACS 109

APACS Fraud Prevention Deepfake Account Takeovers 109

The Payments Association

MAY 7, 2025

From AI-driven scams to rising chargeback rates, the challenges are growing more complex and costly. 1) AI-driven fraud and deepfakes Fraudsters are increasingly leveraging Artificial Intelligence (AI) to conduct highly convincing scams. As we navigate through 2025, high-risk merchants face a rapidly evolving fraud landscape.

Risk 88

Risk Disputes Debit Card Cross-Border 88

Fintech Finance

MARCH 4, 2025

However, regulators have been expanding accountability beyond financial institutions to the digital channels used in fraud scams, such as telecommunications and social media. The use of deepfakes and chatbots by fraudsters poses significant challenges, while real-time fraud detection systems are being enhanced to counter these threats.

Fraud Prevention 52

Fraud Prevention Deepfake Scams Fraud Detection 52

The Fintech Times

MAY 16, 2024

Banks are coming under an increasingly intense barrage of cybersecurity attacks, and many of these now use deepfakes and generative AI to make the initial breach. Firms continuing to use dated means of verification and user authentication could pay if they do not make changes.

Deepfake 69

Deepfake Security Cybersecurity Procedures 69

The Fintech Times

SEPTEMBER 11, 2024

AU10TIX, a company specialising in identity verification and management, also reveals significant vulnerabilities in the Asia-Pacific (APAC) region, where financial-related identity fraud has been escalating. Bots and deepfakes The rise of bots using deepfake technology to create convincing fake profiles poses an additional challenge.

Bots 59

Bots Deepfake Automation APACS 59

Finovate

FEBRUARY 8, 2024

Corsound AI Corsound AI utilizes innovative technology to verify customers’ identities for financial institutions, leveraging over 200 patents to detect AI scams and voice fraud. Dotfile Dotfile is an end-to-end business verification platform that automates KYB and AML procedures, reduces fraud, and streamlines compliance operations.

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

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

Seon

JUNE 27, 2024

How can the technology driving novel and increasingly sophisticated fraud activities be harnessed to combat scams and cyber risks cost-efficient and effectively? AI can generate synthetic identities, create deepfakes and lead other persuasive and difficult-to-detect social engineering tactics.

Cybersecurity 52

Cybersecurity Fraud Detection Identity Theft Money Laundering 52

PYMNTS

SEPTEMBER 11, 2019

STACK implements various behind-the-scenes procedures — tokenization, identity verification and automated fraud detection, for example — and provides customer-facing options that give users a sense of control and transparency.

Security 45

Security Online and Mobile Banking Procedures Deepfake 45

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 122

Verification Deepfake AI Identity Theft 122

Fintech News

APRIL 8, 2025

Is it even a regular Tuesday if someone in Singapore hasnt fallen for a scam? Its starting to feel like scams are as common as bubble tea outlets in this country they’re everywhere, always popping up in new flavours, and somehow, people just keep going back for more. And lets be real for a second.

Scams 100

Scams Authorization Legal Framework Crime 100

Fintech News

MAY 20, 2025

There has been a significant decline in consumer trust in the digital world, largely driven by the rise of AI-powered fraud and deepfakes, according to a recent study by Jumio. The 2025 Jumio Online Identity Study , which surveyed over 8,000 adult consumers across the U.S., The study also identified specific AI-driven tactics causing concern.

AI 75

AI Deepfake Scams Identity Theft 75

The Payments Association

FEBRUARY 18, 2025

AI-driven fraud is evolving fastbanks must adopt adaptive AI models to detect and prevent scams in real-time. Deepfake technology can make calls appear authentic, presenting criminals as the individuals they are impersonating. The AI technology they use can enable them to bypass identity verification processes.

AI 88

AI Romance Scams Fraud Prevention Scams 88

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