AB Handshake Corporation’s Post

A lot of buzz around "OnlyFakes" and "AI-generated fake IDs" these past couple of weeks. To be clear, the recent influx of supposedly AI-generated fake IDs presents no new challenge to a provider with actual anti-fraud tech, like Veriff. These are the same old forgeries that we've all seen for years repackaged under the guise of AI innovation. Fraudsters (smartly) are leveraging AI hype to generate media attention, but in reality they're using simple, widely available templates. The recent trend is merely a tactic to exploit media biases against AI, gaining free publicity in the process. However the nature of these fake documents is no different from your typical digitally generated fake ID. If your KYC provider is letting OnlyFakes slip through, or is concerned that these sites present novel challenges, it's time to reconsider. #onlyfakes #kyc #fraud

A Statista survey reveals that 71% of people worry about scams and deepfakes made possible by the assistance of AI. This emphasizes the urgency to boost digital defenses to protect customers and their identities through innovative solutions and multiple KYC processes. #AI #FraudPrevention #IdentityVerification

Sift’s latest report reveals that over half of surveyed businesses are seeing AI-powered fraud attacks daily or weekly, and almost 70% of consumers say it has become increasingly difficult to spot scams. Read the full report for more: https://buff.ly/4ezLjyb #AI #FraudPrevention #AIFraud #NewReport #FraudTrends #FraudData #AIPowered #GrowFearlessly

Deepfake fraudulent identity verification attempts have surged by 3,000% over the past year, pointing to an emerging threat as new ways of financial scams emerge. How deepfakes and voice cloning taps into your cash 👉 https://lnkd.in/dKup9uYr #deepfake #ai #scam

Is #deepfake menace dragging us to a draconian #tech era? Find out how Signzy’s solution can help you mitigate identity #frauds while maintaining regulatory #compliance #deepfake #frauddetection #fraudprevention #deepfake #ai #kyc #deepfakedetection

Are you still manually optimizing fraud and AML strategies? Why waste time on manual rule tuning when AI can do it faster and better? 🤖💡 Step into the future, and discover how compliance and fraud teams are changing their workflows with AI-driven rule optimization. "Still Optimizing Rules Manually? Let AI Do the Heavy Lifting," is packed with insights, examples, and strategies to transform your fraud detection and compliance processes and improve efficiency. Don’t get left behind – download it now! 🌟🔍 https://lnkd.in/gJ3gPG6Z #ArtificialIntelligence #AI #AML #Compliance #FraudPrevention #FinancialCrime #TechInnovation #Automation #FutureOfWork

It’s no secret that fraudsters are employing advanced #AI to disguise their fraudulent activities. 🕵️♂️🤖 Oculeus GmbH’s advise to #telecoms providers and network operators has always be clear: 🧯🔥 𝐹𝑖𝑔ℎ𝑡 𝑓𝑖𝑟𝑒 𝑤𝑖𝑡ℎ 𝑓𝑖𝑟𝑒 🧯🔥 and apply equally as advanced AI to rapidly detect and control #telecomsfraud. However, the European Union recently passed the EU AI Act into law, creating a comprehensive regulatory requirement for the use of AI applications. 📜🇪🇺 🔗 Read about our Gavin Stewart's assessment of the #governance challenges operators and service providers now face in responsibly applying AI to prevent telecoms fraud - https://lnkd.in/gTfsQB9V.

Awareness of the European Union's AI Act is still surprisingly low. Did you know it's already law? And you have to start doing things about it as early as February? I was recently interviewed by Telecoms Tech News on this topic. It matters, because we need AI to fight the bad guys, but only in a way that also respects citizens' rights. The bad guys have no interest in complying of course. To learn more about our highly effective, compliant, AI-enabled anti-fraud solutions please drop me a line!

The best time to start exploring AI for AML/KYC compliance processes was yesterday, writes Jon Elvin on our blog. But tomorrow isn't a bad option either! Read Jon's take on how to overcome the barriers to adoption for AI in compliance 👇 🔗: https://hubs.li/Q02DMr1j0 #FinancialServices #AML #KYC #Compliance #BuiltInLabs

𝐕𝐢𝐝𝐞𝐨 𝐂𝐚𝐥𝐥𝐬 𝐯𝐬. 𝐅𝐚𝐜𝐞-𝐭𝐨-𝐅𝐚𝐜𝐞 𝐌𝐞𝐞𝐭𝐢𝐧𝐠𝐬: 𝐒𝐚𝐦𝐞 𝐑𝐢𝐬𝐤? (𝐏𝐚𝐫𝐭 𝟐) Today I expand from yesterday's post reg the ML/TF risks associated with video calls that may not have been adequately recognised or managed by many. Awareness/Identification => Assessment => Mitigation => Review While we live in an era filled with all the buzz words like tech, #ai and machine learning etc, the ℎ𝑢𝑚𝑎𝑛 𝑒𝑙𝑒𝑚𝑒𝑛𝑡 can never be underestimated. 𝙏𝒆𝙘𝒉 𝒊𝙨 𝙖 𝙩𝒐𝙤𝒍, 𝙖𝒏𝙙 𝙖𝒏 𝒊𝙣𝒄𝙧𝒆𝙖𝒔𝙞𝒏𝙜𝒍𝙮 𝙫𝒂𝙡𝒖𝙖𝒃𝙡𝒆 𝒐𝙣𝒆, 𝙗𝒖𝙩 𝙞𝒕 𝒊𝙨 𝙣𝒐𝙩 𝙩𝒉𝙚 𝙚𝒏𝙙 𝙞𝒕𝙨𝒆𝙡𝒇. A quick example: It is a human that determines whether a reporting entity forms a suspicion on 'reasonable grounds' for the purpose of s 41 of the AML/CTF Act. When there is a disconnection between the use of tech and the human element, there is a much higher chance of something going wrong. The use of tech in the regulatory #compliance landscape has to remain human-centric. #aml #fraud