MYSEC.TV

Home   /   RESOURCES   /   MYSEC.TV   / Deepfake fraud threats to financial institutions

Deepfake fraud threats to financial institutions

Tech & Sec Weekly
SHARE:

IN THIS VIDEO

Group-IB has released a fascinating case investigation on deep fake fraud.

Group-IB’s Fraud Protection team published a report on how threat actors use deepfake technology to bypass biometric security in financial institutions, including facial recognition and liveness detection. It also details how they recently assisted a major Indonesian financial institution in identifying over 1,100 deepfake fraud attempts.

Criminals used AI-generated deepfake photos to bypass the institutions digital KYC process. Fraudsters are increasingly using deepfake technology to bypass biometric security systems in financial institutions. These criminals are using AI-altered deepfake images, emulators, app cloning, and even virtual cameras to breach multiple layers of security.

We speak with Yuan Huang, Group-IB’s Cyber Fraud Analyst for APAC and discuss the significant social and financial impact of deepfake fraud, with recent losses in Indonesia alone estimated at $138.5 million USD.

The advanced deepfake techniques include app cloning, AI-powered face-swapping and virtual camera applications and we discuss the growing challenges financial institutions face in detecting AI-driven deepfakes and proactive measures financial institutions must take to mitigate risks caused by evolving deepfake technology.

For more information visit https://www.group-ib.com/blog/deepfak…

For more on the Women in Security ASEAN Region Awards visit https://womeninsecurityaseanregion.com/

#deepfakes #mysecuritytv #groupib #topwomeninsecurityASEAN

OTHER VIDEOS IN THIS SERIES

spr
June 18, 2025
We speak with Rob Mueller, senior technologist with NASA based at the Kennedy Space Centre and the founder of Robopalooza. Watch Now
space-11
June 13, 2025
We speak with James Palmer, CEO and Founder of Space Centre Australia. Watch Now
zen-05
June 6, 2025
We speak with Andreas Hartl, Senior Vice President for the Asia-Pacific and Japan (APJ) region at Zscaler. Andreas is responsible for driving the company’s growth and strategic initiatives across the region. Watch Now
zen-04
June 6, 2025
We speak with Dhawal Sharma, Executive Vice President & Head of Product Strategy at Zscaler on the latest innovations in zero trust to enhance security, simplify access management, and significantly reduce legacy infrastructure costs. Watch Now