Lottie Owen Jones
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In this episode of Veriff Voices, David Divitt, Veriff's Senior Director of Fraud Prevention and Experience, and Mike Haley, CEO at Cifas, discuss the intricacies of modern-day fraud - its evolution, the challenges it presents, and strategies to combat it.
How is social engineering evolving in response to new digital threats?
There is a shift from traditional face-to-face cons to digital scams, enabled by the anonymity and scale that comes with the internet. Fraudsters are using mass-marketing and sophisticated impersonation techniques, leveraging stolen data to enhance their credibility.
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Keen to know more? Let's dive in to 10 key online frauds shaping the digital landscape, or 12 common identity verification and fraud scams to avoid!
For more actionable guides and expert research covering all aspects of fraud related to businesses and customers, visit our Fraud Education Center.
The acceleration and evolution of deepfakes
There is alarming potential of deepfakes in facilitating fraudulent activities, such as the recent case of a Finance worker pays out $25 million after video call with deepfake ‘chief financial officer'. As technology advances, the line between reality and deception blurs, posing significant challenges in verifying authenticity. The scalability of automated attacks amplifies this threat, underscoring the need for proactive measures to safeguard against digital impersonation.
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If you're interesting in learning more about the rise of deepfake technology – what it is, how it’s used, and how you can protect your business from the threat it represents - download our free report.
There is a dire need for collective action and collaboration within the cybersecurity community to stay ahead of the curve and effectively combat emerging threats. If you'd like to discuss these trends and understand how we can help your business, get in touch!
Creating effective ecosystems for combating fraud and financial crime
Widespread availability of personal data is fueling the growing sophistication of social engineering tactics and the automation of attacks. Here, David and Mike look at potential solutions, focusing on collaborative efforts to leverage data and technology in proactive fraud prevention measures.
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We must break down industry silos to create more effective ecosystems for combating fraud and financial crime. Watch this webinar about building a fraud prevention ecosystem.
Listen to this conversation to hear more from David on the topic of leveraging data and technology to prevent fraud.
Shifting the narrative around fraud victims
The language we use plays a crucial role in shaping perceptions of fraud and its impact on victims. There is a historical tendency to downplay fraud as merely "scams," which can inadvertently blame victims for falling prey to manipulation. There's a need to shift the narrative surrounding fraud, acknowledging it as a serious crime often perpetrated by organized criminals.
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The vulnerability of many elderly people has always made them a popular target for criminals. However, the issue is exacerbated online, where teams of tech-savvy fraudsters can exploit older people’s lack of confidence and proficiency. In this blog, we look at what can Veriff can do to address the problem.
As Head of Fraud at Dodgeball, Brian Davis, rightly points out, we're all potentially 'vulnerable' when it comes to fraudulent attacks, we're all vulnerable for different reasons. Hear more from Brian on the topic in this webinar.
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