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Navigating the rise of AI-enabled fraud

The Payments Association

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.

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Daon Announces Strategic Partnership with Giesecke+Devrient

Finovate

. “We are proud of Daon’s collaboration with G+D which facilitates the introduction of new scalable, secure identity verification and biometric solutions to millions of users across a wide range of industries and use cases.” “Security has always been at the core of G+D’s mission.

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Deepfakes’ Next Stop: Banking

PYMNTS

The rise of deepfakes — the eerily lifelike impersonations that superimpose heads onto bodies and bodies onto heads in seamless ways that integrate speech and movement, where nothing is as it seems — may be good for a laugh. The best defense against the fraudster armed with AI is to use AI to fight the battle.

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Accredify Becomes Okta Ventures’ First Investment in Singapore

Fintech News

Okta Ventures’ investment criteria emphasise a focus on modern identity challenges, market demand, and the ability to offer unique value through Okta’s extensive network of integrations. said Quah Zheng Wei, CEO and Co-founder of Accredify. ” said Austin Arensberg, Senior Director at Okta Ventures.

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Singapore’s Path Forward for Generative AI

Fintech News

Another ethical concern outlined in the report is the potential of gen AI to produce convincing deepfake content, which can lead to misinformation. Furthermore, gen AI relies on using publicly available data for training, often developed by third parties.

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Code & Capital: AI Versus the Internet and Harnessing the Power of Gen AI

Finovate

Schick also discusses use cases for Generative AI in financial services and the threat posed by AI-powered deepfakes. An author, advisor, and keynote speaker, Schick is an expert in synthetic media, deepfakes, disinformation, cybersecurity, and the geopolitics of technology.

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Despite Knowing Risks, Brits Continue to Expose Themselves to Cybercriminals Finds IDnow

The Fintech Times

Deepfakes and threats of AI Such activity could lead to identity theft, which IDnow believes should be a concern to the UK public, especially given the rise in deepfake technology. Developments in generative artificial intelligence (AI) mean deepfake technology can now be used to create hyper-realistic fake documents.