Tidal wave of financial fraud gaining momentum from AI, deepfakes

Mitek Systems Inc. has released the results of its Identity Intelligence Index 2024, shaking loose many of the familiar specters haunting the digital identity sector. A release on the findings says generative AI and sophisticated deepfake technology are driving a level of fraud that threatens to inundate the global financial services sector.

“Financial institutions are under attack,” says Chris Briggs, senior vice president of identity for Mitek Systems. “In today’s banking world, we know our customers are overwhelmed by …

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