Mitek Systems, Inc. (NASDAQ: MITK), a global leader in digital identity verification and fraud management, has introduced Digital Fraud Defender (DFD), a next-generation solution designed to counter advanced AI-enabled fraud. Tailored for financial institutions, fintech, online gaming platforms, and enterprises relying on remote identity verification, this innovative suite addresses the growing threats of deepfakes, synthetic identities, and AI-powered fraud tactics.
With the rapid evolution of generative AI, organisations are facing an unprecedented surge in sophisticated attacks. Deepfake fraud and account takeovers are on the rise, and the financial implications are alarming. Deloitte’s Centre for Financial Services projects that generative AI-related fraud losses will skyrocket from $12.3 billion in 2023 to $40 billion by 2027. Alarmingly, incidents of deepfake fraud alone could increase by 700% by 2031.
Chris Briggs, Chief Products Officer at Mitek, highlights the need for a comprehensive approach:
Too many organisations and identity vendors react to attacks individually. Digital Fraud Defender uses AI to counter AI, providing a holistic suite of tools to outpace modern fraud.”
Future-Proofing Digital Security
As digital transactions expand, maintaining robust identity verification processes is critical. DFD empowers organisations to detect and prevent AI-driven fraud while preserving customer trust and ensuring regulatory compliance.
Key Features of Digital Fraud Defender
Available within the Mitek Verified Identity Platform, DFD combines Mitek’s proprietary liveness technology with advanced multi-layered defenses. The solution analyses both content and transmission channels for anomalies, offering unparalleled protection against various fraud tactics:
- Injection Attack Detection
Identifies manipulated or fake content by scrutinising both the content and the transmission channel for irregularities. - Template Attack Detection
Detects fraudulent document templates, even when combined with genuine personal information, by recognising patterns and comparing them to known fraud profiles. - Deepfake Attack Detection
Utilises passive liveness detection to uncover AI-generated artifacts in video and audio, identifying even the subtlest manipulations.
Combatting AI Fraud with AI Innovation
Mitek’s Digital Fraud Defender is the first comprehensive defense suite purpose-built to combat the rising tide of AI-driven fraud. By proactively addressing emerging threats, this groundbreaking solution ensures organisations remain secure, compliant, and ahead of the curve.
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