Hannah Olson’s Post

⚡ Socure's Jordan Burris shared his thoughts in a Nextgov/FCW article regarding the fight against #AI-powered threats within the public sector, and how AI must be harnessed for good to win the race against AI-enabled fraud such as deep fakes. “In the public sector, government agencies have experienced a barrage of AI-driven fraud. This is because they are responsible for distributing billions of dollars and they often rely on outdated technology to do so… Now more than ever, we must employ the right technologies to protect people and safeguard the critical services that the government provides.” Learn more about how public sector companies can tackle #AI fraud: https://lnkd.in/dGtsCaPe

As AI continues transforming the business landscape, fraudsters are also evolving their tactics. To combat these threats, businesses must adopt a multi-layered fraud prevention strategy and consider consolidating their identity verification providers. Dive into the full blog post for actionable insights ➡ https://lnkd.in/eH7YG-f2 #FraudPrevention #AI #IdentityVerification #ArtificialIntelligence #IDV

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

If you only read the headlines, you might think that the use of AI in fraud prevention is a pretty new concept. In reality, financial institutions have been deploying AI models for decades to detect and prevent fraud. While there are many exciting new applications of Gen AI emerging today, Gen AI is not a silver bullet for fraud prevention. Tommy Nicholas has a great breakdown in the subject out in American Banker this week—I definitely recommend a read! https://lnkd.in/gtuyd9pz

🔊ID fraudsters have discovered deepfakes and the arms race is on. Unfortunately, the sophistication of this AI-based tech is making fraud prevention increasingly difficult. Our Chief Business Development Officer, Ofer Friedman recently spoke with Ted Orme-Claye of Payment Expert about the threat posed by #deepfakes and how businesses can defend themselves. Discover how digital injection technology works, see how traditional and digital banks are dealing with deepfake threats differently, and learn about the impact of organized crime on these types of fraud. https://lnkd.in/eXveubg6 #ai #idenityverification #payments

AI Punishing AND Preventing Scams! O2's AI granny, Daisy, ties up scammers, reducing their efficiency and exposing their methods, contributing to fraud prevention. In the ongoing battle against phone fraud, O2 has introduced Daisy, an AI-powered "granny" designed to combat scammers by engaging them in prolonged, fruitless conversations. With features like lifelike voice synthesis, autonomous conversation capabilities, and training on real scammer data, Daisy not only wastes scammers' time but also gathers valuable insights into their tactics, helping to improve fraud prevention strategies. https://lnkd.in/eRzrqJFk

Signicat has revealed that organisations are concerned regarding the looming threat of #deepfake and artificial intelligence (#AI) fraud attacks. These concerns were found in Signicat’s latest report detailing the growing threat of AI to identity fraud and how key decision makers are experiencing more of these emerging attacks, with some believing that they are unprepared to tackle. https://lnkd.in/eC_CD_4p

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

Three major regulatory and law enforcement agencies have issued alerts about deepfakes and AI being used in financial crimes, but there is a much larger story to those alerts. The financial industry, especially those in mid-sized to smaller-sized organizations, are at a turning point. Traditional defenses won’t work against AI-driven fraud. In 2025, the impact of GenAI used to commit fraud will be felt by consumers and FIs alike. Our Lenny Gusel writes about the risks FIs face if they don’t use AI to fight AI.

Elder abuse and fraud are prevalent with AI and deepfake scams, as reported by American Banker. Protecting vulnerable populations is a responsibility we all share and a core value here at Pindrop. We’re proud to be at the forefront of combating these sophisticated fraud trends through voice authentication and AI detection tools. Read the article here: https://lnkd.in/eCcGwrZF