Latest cybersecurity reporting from selected sources.

The Urgency of High-Assurance Identity Proofing Amid Growing Identity FraudRemote work has fueled a new crimewave built on stolen and synthetic identities. As deepfakes scale, high-assurance identity proofing - combining biometrics, liveness detection and verified IDs - becomes essential to verify users, prevent impersonation and protect enterprise access.

Easy-to-Use Deepfake Services for Criminals Rapidly Improving, Researchers WarnFinancial firms' fraud and risk teams must bolster know-your-customer checks in the face of increasingly effective and affordable deepfake technology and services that can generate synthetic identities, convincing face-swaps and defeat "live" biometric checks to bypass defenses, warn researchers.

Entrust says AI is helping fraudsters open new accounts and bypass biometric checks

Cybersecurity researchers have disclosed details of a new Android banking trojan called Herodotus that has been observed in active campaigns targeting Italy and Brazil to conduct device takeover (DTO) attacks

FIs Must Invest in AI-Fueled Behavioral Biometrics to Go Beyond Static CredentialsScammers are increasingly turning to account takeover fraud, as financial institutions ramp up their defenses. Instead of luring victims into making authorized transactions, cybercriminals are bypassing them altogether, hijacking their digital identities and draining accounts from within.

Experts Recommend Multimodal Biometrics as Mitigation Strategy for AI-Based AttacksWhile AI has spurred the growth of authentication controls, it has also enabled voice cloning and video deepfakes to become much more convincing. Fraud fighters are looking at adopting a multifactor authentication system using multimodal biometrics to fight against deepfakes.

Biometrics Stalwart Eyes M&A, Geographic Expansion With Private Equity Firm BackingPermira has acquired a majority stake in BioCatch at a $1.3 billion valuation, solidifying the company's global expansion plans. The behavioral biometrics company is exploring mergers and acquisitions, aiming to expand into key markets while consolidating its position in online fraud detection.

No good deed goes unpunished, as a national push to combat SIM fraud has introduced new logistical and privacy issues for ordinary citizens.

X, the social media site formerly known as Twitter, has updated its privacy policy to collect users’ biometric data to tackle fraud and impersonation on the platform

Full-cycle verification platform enhances its facial biometrics verification with innovative deepfake detection technology; shares new 2023 identity fraud trends.

Collaboration delivers end-to-end intelligent banking cloud platform with online fraud detection powered by next-generation behavioral biometrics.

With rising fraud, businesses are seeking authentication methods that are security- and user-friendly. But with that comes a few complications.

Concerns raised over South Africa’s proposal to tie people’s biometric data to their SIM cards