Latest cybersecurity reporting from selected sources.

Fraudsters Tokenize Stolen Cards Into Attacker WalletsGoogle Threat Intelligence Group warned that Chinese-language phishing-as-a-service platforms are using AI, encrypted messaging and real-time OTP interception to bypass multifactor authentication and provision stolen payment cards into attacker-controlled digital wallets worldwide.

Report Reveals Growing Trend of Fraudsters Intercepting SMS-Based VerificationFinancial institutions have historically relied on one-time passcodes as a primary authentication control for their accountholders. But OTP verification is less reliable as fraudsters increasingly exploit SMS-based verification weaknesses to carry out account takeover and payment fraud schemes.

Fraud Specialist David Barnhardt on Addressing Authentication Risks of Agentic AIFinancial institutions are racing to deploy AI agents that can initiate payments, approve transactions and freeze accounts. But traditional authentication frameworks assume there's a human on the other end. As agentic AI use grows, banks are facing an authentication crisis that demands new controls.

Reports of patients being cared for by unqualified home-care aides with fake identities continue to emerge, highlighting a need for more stringent identity authentication.

Steve Lenderman of isolved on Cross-Device Challenges, User Adoption StrategiesSteve Lenderman, head of fraud prevention at isolved, discusses the shift to passwordless authentication, addressing adoption challenges across multiple devices, the link between cybersecurity and fraud prevention, and how behavioral analytics will shape identity verification in 2026 and beyond.

Banking Sector Faces Challenges in Meeting March 2026 Compliance DeadlineThe Central Bank of UAE has issued a directive asking financial institutions to eliminate weak authentication methods including SMS and email OTPs. Banks are also expected to implement real-time fraud monitoring and suspend sessions when malicious activity is detected.

LexisNexis Combines AI-Driven Document Authentication With Its Fraud SolutionsTo counter AI-driven fraud, LexisNexis acquired IDVerse, a London-based startup focused on document authentication and regulatory compliance. This acquisition aims to seamlessly integrate advanced tools into LexisNexis' fraud and identity platforms, enhancing global operations.

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.

BioCatch Survey Report Focuses on New AI-Based Risks and Fraud-Fighting SolutionsBanks are concerned about advancements in voice-cloning technology and the threat it poses to authentication. The failure of identity-centric solutions to combat synthetic identity fraud has convinced 91% of U.S. banks to reconsider their use of voice verification for major customers.

OnDemand | The Tools & Technology You Need to Meet Google/Yahoo Email Authentication RequirementsOur email authentication experts will be on hand to provide their insight and a demonstration of how exactly Proofpoint Email Fraud Defense can help identify and close requirement gaps.

As companies navigate how to protect themselves from the onslaught of increasingly sophisticated fraud threats, artificial intelligence will be a critical piece of next-gen authentication.

Identity verification and identity authentication are neither synonymous nor interchangeable, and implementing both is essential to fighting fraud.

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