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Trustfull

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In an era where #generativeAI is making #deepfakes, voice cloning, and injection attacks easier for fraudsters, the need for robust identity verification procedures has never been greater. Biometric Update has gathered recent industry announcements and studies on how AI is being used to both pursue and fight fraud, including: 💡Jumio Corporation’s 2024 Online Identity Study, revealing that 75% of customers believe their bank is ultimately responsible for protecting them against cybercrime. 💡IDology's Global Fraud Report, showing that 45% of companies are worried about generative AI’s ability to create more sophisticated synthetic identities.  💡Recent reports from the Association of Certified Fraud Examiners (ACFE), saying businesses worldwide lose an estimated 5% of their annual revenues to fraud. 💡Statistics by iProov, showing a 704% increase in face swap injection attacks between the first and second halves of 2023. 💡Trustfull's launch of Silent Onboarding, a solution that combines phone, email and IP address data to pre-screen customers in the background and empower companies against the rising threat of synthetic identity fraud. To find out more, explore: 🔗 The full round-up article: https://lnkd.in/dsReWWFg 🔗 Trustfull's Silent Onboarding announcement:  https://lnkd.in/dkwBQCt2

Reports show ebbing faith in banks that ignore AI fraud threat

Reports show ebbing faith in banks that ignore AI fraud threat

https://www.biometricupdate.com

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