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The use of deepfakes – AI-manipulated images or videos designed to impersonate another person – has become more and more common in recent years. The Identity Fraud Report 2024 by Sumsub reveals, the proportion of fraud attempts with deepfakes in Germany rose by 148 % in 2024 compared to the previous year. Worldwide, it has even quadrupled. More broadly, Europe saw the second highest increase in YoY growth of fraud out of all regions - 150%.

Highly organized fraud networks are becoming more prevalent, with one in every 100 online users being associated with a fraud ring, according to Sumsub data. Further, increasingly accessible sophisticated fraud technologies are mounting significant pressure on fraud prevention teams, making detection ever more challenging. The use of AI for deepfakes is just the tip of the iceberg. AI-generated identification documents, synthetic voices, and AI-driven chatbots posing as real users make fraud attempts more sophisticated and harder to detect.

Critically, the only way forward is to fight AI with AI. For businesses, the ultimate tool that keeps them protected is a multi-layered anti-fraud solution with different checks at various user journey stages. These entail analyzing user behaviors, detecting anomalies in account activities, and identifying emerging fraud patterns in real-time, harnessing the power of AI to protect businesses and end-users alike.

Article sponsored by Sumsub