Deepfakes in finance: a threat to be wary of? - FinTech Futures

Since the start of the COVID-19 crisis, the number of fraud cases have continued to grow. In late June, over £16 million was lost to online shopping fraud during lockdown according to Action Fraud. From posing as government officials to online TV subscription services, fraudsters are trying every way they can to entice people for their personal details and prey on their hard-earned savings. Now, the latest weapon fraudsters are adding to their arsenal is synthetic identity fraud. Fraudsters are turning to synthetic identities to open new accounts.