Jim Mortensen’s Post

I am excited to announce we are doubling down on our efforts to curb identity fraud with our Fraud Lab investment. Read more how Microblink stays at the cutting edge of synthetic fraud detection and identity verification here: https://lnkd.in/g2H3RzfH #fraud #syntheticfraud #documentverification #cybercrime #AI #ML #syntheticdata

The battle against AI-driven identity fraud has begun. Are you ready to face this new threat? Imagine a scenario where identity frauds are becoming increasingly sophisticated, using AI technologies like deepfakes and social engineering attacks. In this environment, financial institutions must be more prepared than ever to combat these risks. A startling fact: 42.5% of detected fraud now involves AI, and fraud decision-makers are struggling to keep up. Despite many companies prioritizing AI-driven fraud prevention, effective implementation remains a challenge. Our new report, in collaboration with David Birch and Steve Pannifer from Consult Hyperion, offers: ✅ Advanced strategies to combat AI-driven identity fraud. ✅ Insights from over 1,200 decision-makers across Europe. ✅ Organizational readiness and future prevention methods. The question is: Are you ready to tackle AI-driven identity fraud and protect your business? Download the report in the comments. 👇 #Signicat #AIFraud #FraudPrevention #DigitalIdentity

🌟 Last week's #NASCIO conference centered discussions on GenAI and IT workforce, privacy, and governance 🌟 Advanced identity protection is crucial in navigating the evolving AI landscape. 🤖 🔐

Excellent update on how ID.me is proactively working to combat increasingly sophisticated fraud threats. #IDme #Fraud #Cybersecurity #identityverification

We are thrilled to share insights from the recent research commissioned by Ping Identity, highlighting the urgent need for advanced identity protection in the AI era. The research focused on 700 IT decision-makers across the U.S., U.K., France, Germany, Australia, and Singapore, from various sectors. Some of the key findings include: ✔ 97% of organizations are experiencing challenges with identity verification. ✔ 54% are very concerned that AI technology will increase identity fraud. ✔41% expect cybercriminals' use of AI to significantly increase identity threats over the next year. Catherine Billington Octavia Armstrong Lauren Woodley Anna Roberts Victoria Martin Gurmeet Johal Read the post below:

Recent research by Okta reveals that three-quarters of Canadians fear their identity could be stolen through advancements in artificial intelligence, with less than a quarter feeling confident in recognizing AI-generated identity fraud attempts. The study highlights particular concerns among British Columbians, with over 30% worried about AI attacks on their banking and social media accounts, yet only about a quarter feel adequately educated about AI threats, underscoring the need for increased public awareness and protective measures like multi-factor authentication to safeguard personal information. https://lnkd.in/eUpfyqzJ

Unmasking document and biometric identity fraud: Exposing the deceptions How generative AI is amplifying document forgery threats and deepfake attacks #generativeAI #deepfakes

Find out how decentralized identity is considered a key technology to help fight fraud in the AI era. Read our new survey and what it reveals on the sentiment of the new challenges that are coming. www.neoidentity.com

https://lnkd.in/e3Hi5Evj AI-powered financial fraud is rising, making it easier for fraudsters to deceive companies and individuals. According to CNBC, gen AI tools create convincing phishing emails, fake IDs, and even deepfakes to impersonate executives. A 2023 Association of Financial Professionals survey found that nearly two-thirds of respondents encountered attempted or successful financial fraud in 2022. Larger companies are more likely to fall prey to email scams. To combat this, companies are developing customized gen AI platforms to identify criminals' "mule accounts" that hold stolen money. Stay vigilant and protect yourself against financial fraud. #fraud #financialfraud

Fraud and identity theft have increased by 267% since 2010, according to Federal Trade Commission data. What's driving this trend, and how does ID.me keep its users' personal data safe? JT Taylor, ID.me's Senior Director of Fraud Investigations and Operations, will dive into the answers in the coming weeks. As JT explains in this intro to his series on biometrics and identity theft, the rapid advancement of generative AI has allowed fraudsters to become faster and more effective at stealing digital identities. ID.me has pioneered the integration of advanced biometrics into our identity verification process to combat the emerging threats driven by AI. Tune in next week to hear more about how ID.me detects and stops fraudsters, all while keeping users in control of their biometric data. Watch the video here: https://www.id.me/about #IDme #Identity #IdentityVerification #Biometrics