A new report from Entrust warns that identity fraud is rapidly escalating in scale and sophistication, driven by the widespread adoption of artificial intelligence to create deepfakes and bypass biometric security, according to Security Brief Australia.
The study reveals a 58% annual increase in deepfake selfies, which now constitute 20% of all biometric fraud attempts, while injection attacks have surged by 40%. These technical methods are increasingly combined with social engineering, targeting human vulnerabilities through phishing and impersonation. The fraud landscape varies significantly across industries, with crypto platforms facing 67% of attacks during customer onboarding, while payment firms and digital banks are primary targets for account takeovers.
Notably, national ID cards are the most forged documents globally, and there is a marked rise in digital forgeries facilitated by accessible AI tools. According to Entrusts Simon Horswell, fraud rings are evolving to be "faster, more organised, and commercially driven," making identity the new frontline. Tony Ball, President of Payments & Identity, emphasized that combating these "adaptive threats" requires layered, AI-powered identity verification strategies that balance robust fraud prevention with a seamless user experience across the entire customer lifecycle.
The study reveals a 58% annual increase in deepfake selfies, which now constitute 20% of all biometric fraud attempts, while injection attacks have surged by 40%. These technical methods are increasingly combined with social engineering, targeting human vulnerabilities through phishing and impersonation. The fraud landscape varies significantly across industries, with crypto platforms facing 67% of attacks during customer onboarding, while payment firms and digital banks are primary targets for account takeovers.
Notably, national ID cards are the most forged documents globally, and there is a marked rise in digital forgeries facilitated by accessible AI tools. According to Entrusts Simon Horswell, fraud rings are evolving to be "faster, more organised, and commercially driven," making identity the new frontline. Tony Ball, President of Payments & Identity, emphasized that combating these "adaptive threats" requires layered, AI-powered identity verification strategies that balance robust fraud prevention with a seamless user experience across the entire customer lifecycle.
