Over the past five years, generative artificial intelligence has had a major impact on the digital landscape, sparking incredible interest and deep concern.
The exponential increase in processing power, continued advances in deep learning and neural networks, and the democratization of AI tools have converged to fuel a creative explosion in digital media.
However, this powerful technology can also be exploited by malicious actors to create deepfakes (highly convincing simulations of individuals saying or doing things they did not actually do). there is. As deepfakes become increasingly viable, they may pose the greatest threat to personal identity and e-commerce security, and are even more dangerous in the areas of digital banking and remote financial services. new white paper reveal.
Evolution of deepfakes
The term “deepfake” itself reflects this technology’s foundation in deep learning and its ability to seamlessly combine and modify existing visual and audio elements to create authentic-looking content.
As detailed in the white paper,Ensuring authenticity: ZOLOZ’s solution to deepfake challenges in the digital ageDeepfakes use a type of machine learning called deep neural networks, specifically generative adversarial networks (GANs), to create or manipulate images and videos.
The term “deepfake” was born in late 2017 from a community of enthusiasts on Reddit, but its roots lie in other AI advances, according to the report. “Fake” refers to created fake media, and the “deep” part of the term combines deep learning and computer vision, as well as large amounts of data and computing power.
Since then, deepfakes have evolved into a major challenge to traditional identity verification methods. The increasing sophistication of deepfake technology is making it increasingly difficult for traditional eKYC solutions to detect and prevent fraud.
The need for multiple layers of protection
a Recent happenings The incident in Hong Kong is a stark reminder that deepfake-based scams are becoming increasingly sophisticated. In February 2024, a criminal combined a stolen ID with his AI-generated face to fool identity verification systems.
They successfully opened 54 bank accounts and obtained 90 loans between July and September 2023. This multi-pronged attack highlights critical vulnerabilities in the digital identity verification process and highlights the need for robust multi-layered protection.
To combat the ever-evolving deepfake threat, financial institutions must adopt a comprehensive and dynamic security stack that goes beyond minimum compliance standards. The white paper outlines how an ideal solution would leverage artificial intelligence and machine learning to provide fast and accurate identity verification across a variety of users and devices, while continuously adapting to new attack types. Masu.
Localization features are also configurable and must ensure compliance with various regional and national laws and regulations.
ZOLOZ cutting-edge eKYC solution
ZOLOZ, a leading provider of eKYC technology, has developed a state-of-the-art risk control and data privacy stack that incorporates three key layers of protection: RealID, Connect, and Network.
RealID: Fast and accurate onboarding
RealID ensures fast and accurate onboarding by verifying identity authenticity and matching users’ live selfies to their faces on documents. This layer employs an ensemble of AI classifiers trained on an extensive library of labeled data, including official ID cards from numerous country-specific templates.
By comparing template metrics with captured ID images, RealID can effectively detect forged or altered documents and prevent eKYC impersonation attempts using screenshots or altered images.
ZOLOZ has the ability to customize card security feature detection based on ID design and has passed the Hong Kong Monetary Authority (HKMA) and Hong Kong Police Department’s “Advanced Fake ID Detection Test” three times with perfect accuracy. I am.
Connect: Advanced Survival Detection
Connect employs advanced liveness detection algorithms to prevent data injection attacks and ensure that a real human is inputting facial image data. This layer utilizes a combination of techniques such as eye blink detection, texture analysis, and eye area focusing to determine if an image-based attack is occurring.
ZOLOZ Connect has passed rigorous ISO30107-3 (iBeta1/2) certification, confirming that its facial activity detection eKYC feature meets international standards.
IdNetwork: Identifying system risks
The IdNetwork layer leverages data science graphs to identify and map duplicate authentication risks and large-scale identity fraud risks. By analyzing historical data such as facial data, device information, and user ID information, IdNetwork identifies suspicious and risky activities such as the same user attempting to authenticate multiple accounts or using altered personal information. High activity can be detected effectively.
Risk-based approach
By taking a multifaceted, risk-based approach, ZOLOZ provides eKYC clients with layered, dynamic protection that constantly evolves to combat the latest malicious activity. As outlined in the whitepaper, the system captures suspicious and high-risk activity and allows clients to customize fraud risk assessments using a variety of risk mitigation metrics.
Aggregated results from RealID, Connect, and IdNetwork are divided into three categories: failed, passed, or pending transaction results. The latter typically accounts for 10-15% of all transactions and requires manual review.
Fighting deepfakes in the digital age
As the fintech industry continues to expand and incorporate innovations such as: cryptocurrency and smart contract, the need for robust and reliable security solutions has become essential. With cutting-edge technology and a strong partnership with Alibaba Cloud, ZOLOZ is well-positioned to provide industry-leading eKYC solutions that help financial institutions meet the challenges posed by deepfakes in the digital age.
Trusted by 740 million people across Asia and awarded by top e-wallet providers, traditional and virtual banks, lending platforms and more, ZOLOZ is trusted globally to provide industry-leading security. It is working.
Want to learn more about ZOLOZ’s comprehensive approach to countering deepfake threats and ensuring the integrity of your organization’s eKYC infrastructure? Download the full whitepaper here. See how ZOLOZ’s multi-layered solutions can give your organization peace of mind and deliver more comprehensive financial services to a broader audience.
