Tackling Deepfakes in Banking and Beyond: A Cybersecurity Awareness Month Special
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Blog Post: Cybersecurity Awareness Month
This Month
It can’t be a coincidence that global Cybersecurity Awareness Month ends on the night when strangers in disguise show up at your door requesting treats – a live phishing test if we ever saw one. Think before you get tricked!
In this issue, Entrust CEO Todd Wilkinson marks Cybersecurity Awareness Month with thoughts on how adding trust and security in this digital-first world unlocks the many benefits of the digital transformation to business, government, and our everyday lives.
And on the podcast, we delve into the increasingly sophisticated use of deepfakes and synthetic identities by criminals to create bank accounts and scam customers – and how innovation in identity verification, biometrics, and AI is helping banks and enterprises fight back.
Institute Feature
Digital-First Banking – A Report by Entrust
Banking and payments are in a state of flux. Enduring financial institutions are facing competition from challenger or neobanks and fintech firms boasting digital-first experiences. Consumers are demanding more from their banks, making high-quality service, low fees, and robust security table stakes. Meanwhile, fraud and cybercrime remain at an all-time high.
Entrust surveyed 1,000 consumers in four countries to gain insight into the state of the digital banking experience, opportunities and challenges ahead for financial institutions and their customers as they explore digital banking capabilities, and considerations to help organizations thrive in this competitive market. Download the report here
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More Institute Insights
Blog: Whether we’re ready or not, AI and machine learning (ML) are disrupting many industries, and banking is no exception, writes Jenn Markey, Entrust VP Product Marketing. According to a survey from The Economist Intelligence Unit , 77% of bankers believe that the ability to unlock the value of AI will be the difference between winning and losing banks, and in her blog post Markey outlines some of the key benefits and threats that AI brings as the double-edged sword for today’s banker. Read here
Video: Deepfakes and synthetic identities represent two of the most nefarious challenges to banks and credit unions who are seeking to prevent fraudulent account openings and takeovers while also complying with Know Your Customer regulations. In this video Entrust COO - Digital Anudeep Parhar explains how financial institutions can address these added challenges and apply an extra layer of security while improving the customer experience at the same time. Watch here
The Stats
Next Month
The Cybersecurity Institute goes to Money20/20 to learn about banking in the age of AI.
Vice President, Public Relations & Communications at Entrust
1 年Good content here this month and hope you'll check it out. Really enjoyed talking with Jordan Avnaim and Greg Wetmore on the podcast. AI is taking fraud to a whole new level ... but banks and other enterprises have the opportunity to build in processes with deeper trust as well.