SPECIAL EDITION: THE IDENTITY FRAUD MEGA ATTACK OF 2023 AND Q4 HIGHLIGHTS
In May 2023, an organized mega-attack lasting eight months was executed by sophisticated fraudsters, targeting a member of AU10TIX’ 60-plus participants consortium. Over 22,000 new user attempts were made using unique AI-generated variations of a single ID template, with fifty percent of the attacks occurring within weeks.
AU10TIX’s multi-layered inspection successfully detected the attack, emphasizing the importance of consortium participation in combating fraud. The incident underscores the escalating threat of “undetectable” identity fraud, particularly in sectors like Payments, Social Media, and Crypto, highlighting the need for robust KYB, KYC, and AML screening processes with biometric verification.
This special edition of our quarterly report is a comprehensive dive into the DNA of the deepfake at the root of the mega attack. Don’t miss out on this invaluable resource.
Read our report for actionable insights that will keep you one step ahead of bad actors.