This launch comes in the context of an emerging deepfake trend that was detected by Sumsub a while ago. The company decided to combat this rapidly evolving type of fraud, as it has the potential to inflict high damage to digital platforms, people, and communities. Sumsub research indicates that the number of deepfakes detected in Q1 2023 was 10% greater than all of 2022 combined. In this context, the company has updated its in-house liveness solution, which is a facial biometrics tool.
The new deepfake fraud detector integrates into Sumsub’s liveness solution and is designed to work with new AI technologies to ensure that fraudsters are unable to pass security checks. According to the company press release, Sumsub’s proprietary liveness technology is able to detect spoofing attempts while authenticating real users in a matter of seconds. The system makes sure that users are physically present during the verification process by generating a 3D FaceMap that is continuously referenced for authorising all future actions.
Sumsub believes that every business that has an online presence is vulnerable to deepfakes, including fintechs, crypto platforms, gambling platforms, and payments companies. Sumsub’s research shows that Spain was the leader in deepfake fraud in 2022, with 49.7% of all global cases, followed by Great Britain (9.3%), and the U.S. (4.2%). For the first quarter of 2023, the company reports that most deepfakes came from Great Britain and Spain with 11.8% and 11.2% of global deepfake fraud, respectively.
In June 2023, Sumsub shared fraud data statistics for North America that highlight an increase in forced verification and deepfakes. The information includes Q1 2023 fraud statistics for North America and how they compare to 2022, with a basis in data collected from the US and Canada during this period.
In Q1 2023, in the US, 17% of fraud was attributed to identity document forgery. Following the increase in cyber threats and identity theft, organisations and platforms started to implement various verification processes in a bid to ensure the authenticity and legitimacy of users.
The industries most impacted are also among the most regulated ones, with Sumsub’s findings showing that the top three affected industries by fraud in the US were IT services in 2022 and Q1 2023 alike, classifieds, and crypto. Moreover, online media fraud had a twofold increase from 2.1% to 4.6% in Q1 2023.
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