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Finance companies fight back against AI deepfakes, with over 70% of new enrollment attempts to some firms being fake
While AI presents an opportunity for financial firms like Ant International, it also poses risks.
Deepfakes can be a challenge for financial institutions like Ant International, which need trusted identities to be able to carry out know-your-customer checks to comply with anti-fraud and anti-money-laundering legislation. For example, cybersecurity experts say that North Korean IT workers use deepfake identities to get jobs at leading tech firms and funnel earnings back to the isolated country. Zhang said AI helps Ant International deliver “greater efficiency” and “enhanced security” to its 100 million merchant customers worldwide, most of which are small and medium enterprises.
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