Fraud Management & Cybercrime , Fraud Risk Management , ID Fraud

Countering Deepfake Fraud in Digital Onboarding

Preventing deepfake fraud while addressing customer digital onboarding ease-of-use concerns is a balancing act. Mitek's Sanjay Gupta, an authority on identity verification, discusses the challenges of juggling security and convenience for banks onboarding new customers outside of their branches.

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”There are two problems here. You've got fraudsters trying to spoof the system coming in, but then you've got human beings who don't want to do other things besides transact on that account or get an account set up,” Gupta says. “So there are two opposing foreign forces or devices, and you have to find a 'medium ground' way of preventing the fraudsters and helping people onboard.”

In a video interview with Information Security Media Group, Gupta discusses:

• The challenge of deepfake video and audio detection;
• How fraudsters are using deepfakes for banking and payments fraud;
• The need for financial services industry collaboration in mitigating digital onboarding fraud.

Gupta is vice president and global head of products and corporate development at Mitek. He is responsible for global product strategy, identity verification innovation and fraud prevention to keep customers safe in an increasingly digital economy. He also leads the company’s mergers and acquisitions. Previously, Gupta was vice president of corporate development at Accelrys, a life sciences software company, and held senior-level corporate and engineering positions at Lockheed Martin and Corvis Corp.