Biometric Update’s Post

Socure is continuously looking to the Future. Our Innovation in AI and ML through our models are evolving at an extremely fast pace. We're always looking to improve and develop the best Identity Verification and Fraud Detection products in the market, like our DocV, Sigma Identity Fraud and Sigma Synthetic Fraud products, and now we acquired the best Real-time, Risk Decisioning Platform to deliver them to you. DocV: https://lnkd.in/g9Pdrspi Sigma Identity Fraud: https://lnkd.in/gMKQEtdA Sigma Synthetic Fraud: https://lnkd.in/gX7_dx4p #Socure, #dentityVerification, #fraudprevention

Trying to find how AI can complement your efforts to mitigate fraud? Learn from industry leaders about the top 5 trends in identity verification.   Stay ahead and protect your business from fraud. Read about the 5 Identity Verification Trends to Watch for in 2024! #ai #identityverification #verification #trends #5trends #2024 #fraud #frauddetection #compliance #mitigatefraud #follow #compliancely

🌐 The Rise of #AI #Scams: A Threat We Can’t Ignore If your mother called you, in tears, begging for help urgently, would you accuse her of fraud? Would you make her prove her identity? Or give her the benefit of the doubt as she pleads and her voice trembles? The growing use of #AI in fraudulent activities is becoming increasingly evident, a trend highlighted by the Communications Fraud Control Association (CFCA) and one that we are also observing closely. Scammers are leveraging advanced technologies to create highly convincing #deepfake calls that can deceive even the most vigilant individuals. From mimicking the voices of loved ones in distress to impersonating public figures like President Joe Biden, these AI-generated scams are pushing the boundaries of traditional fraud and posing significant risks on a global scale. It's clear that this is no longer just a futuristic threat—it's a real and present danger. To combat this fraud, the key is not to stop deepfakes, it is to stop the calls. Real-time call validation technology сoupled with ML algorithms steps in where other traditional methods fall short. AB Handshake system identifies and blocks fraudulent calls before they even reach victims. This ensures that operators have the tools they need to protect their networks and customers from the rapidly evolving landscape of #vishing and other voice #fraud. So whether the scammers use AI to swindle their victim or not, users won’t need to avoid unknown potentially dangerous calls or block specific numbers—fraud simply won’t reach them. 📞 Ready to take a step towards a safer telecom environment? Contact us today for a free consultation with our voice fraud experts: https://lnkd.in/d54KXEUP #AntifraudNews #AIScams #telecom #Realtimecallvalidation #callvalidation

As AI becomes a staple of the fraudster’s toolkit, driving an uptick in identity theft and deepfake fraud, some are looking to wallets as a scalable solution. #AI #fraud #deepfake #digitalwallets

If you missed Jordi's presentation on stage at Money20/20 you should read this. Jordi shared : “Gen AI is just another wave. It can have positive things, helping companies to automate services for clients to become more personalised and being more efficient.  “But at the same time, gen AI is representing a new kind of fraud, it has monetised the identity of fraud. It can increase identity fraud with really easy, simple tools to use.” https://lnkd.in/etpTbaZH #Identity #Biometrics #Deepfake #GenAI

𝐎𝐯𝐞𝐫 𝐚 𝐭𝐡𝐢𝐫𝐝 𝐨𝐟 𝐟𝐫𝐚𝐮𝐝 𝐚𝐭𝐭𝐞𝐦𝐩𝐭𝐬 𝐭𝐚𝐫𝐠𝐞𝐭𝐢𝐧𝐠 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐢𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐬 𝐧𝐨𝐰 𝐮𝐬𝐞 𝐀𝐈! OK. And? I haven't done the math, but I'm pretty sure that more than 1/3 of what I do now uses AI. Considering that fraud was on the forefront of AI usage and has a decade on the rest of us, it seems like saying a third of fraud attempts use AI is lowballing it. I know AI fearmongering is a marketing strategy, but that's not going to stop me from getting annoyed by the feeling that leading the conversation toward the superficial aspects of fraud distracts from working toward meaningful solutions. Eventually, 100% of fraud attempts targeting financial institutions will use AI. Let's create a strategy using that assumption, not one aimed at deepfake technology that will be obsolete in a year and replaced with something much better. But hey, here's a new fraud report all about AI-driven fraud. The Battle Against AI-driven Identity Fraud (https://lnkd.in/gT9yk9s5) #fraud #fraudreport #fraudmanagement #fraudstrategy #fraudprevention #fraudanalysis #marketing #ai #genai #deepfakes #fud

AI Is Changing the Face of Fraud - and Fraud FightingBanks Using AI to Spot Fraud, Create Synthetic Data for Better Predictive Analytics

📢Our Q3 Global #IdentityFraud Report is here! Key finding: Social media attacks surged to 28% (from 3% in Q1) as fraudsters deployed AI-powered bots ahead of the US election. Read more: https://bit.ly/40qzBRZ #IdentityVerification #ElectionSecurity #AU10TIXGlobalFraud

A layered, risk based and adaptive approach should and can be the fundamental approach to #Identity and #Fraud. With partners like Provenir, fintechs, banks, marketplaces and others are able to leverage GBG’s broad suite of KYC, Document, AML and Fraud solutions to onboard the right customers quickly and painlessly, all within a trusted decisioning layer! Working collaboratively with trusted partners who listen and consult can go a long way towards solving pain points such as fraud and friction, whilst simultaneously ensuring a competitive #UX. Reach out anytime to myself or any of our GBG Plc partners to learn more about how we can facilitate your GTM strategy. #onboarding #digitalidentity #compliance

AU10TIX Q3 2024 Global Identity Fraud Report Detects Skyrocketing Social Media Attacks in Lead-Up to US Presidential Election “Fraudsters are evolving faster than ever, leveraging AI to scale and execute their attacks, especially in the social media and payments sectors,” said Dan Yerushalmi, CEO of AU10TIX. “While companies are using AI to bolster security, criminals are weaponizing the same technology to create synthetic selfies and fake documents, making detection almost impossible. The only way to detect this type of fraud is by analyzing behavior at the traffic level, as AU10TIX does with our Serial Fraud Monitor. We are committed to continually advancing our detection methods to protect customers against this rapid evolution of fraud tactics, using a combination of advanced AI, biometric verification, and deepfake detection.” https://lnkd.in/eMrfEypQ Jay Smith Lisa Vestel Ofer Friedman Amazia Keidar Erez Hershkovitz Liat Cohen Ilan Maytal Hanna Schindler #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews