Biometrics: The Answer to Deepfake Fraud in Identity Verification

Published Date: 24/07/2024

As deepfake fraud becomes more prevalent, consumers are turning to biometrics for secure online identity verification. But what are the concerns surrounding bias in biometric systems?

The threat of fraud is a constant in today's digital landscape, and the rise of deepfakes created with generative AI has sent worry levels soaring. A recent report from the FIDO Alliance found that 48% of respondents want to use biometrics to verify themselves online in sensitive use cases like financial services, and 52% are concerned about deepfakes when performing online identity verification. The report also highlighted that one in four respondents feel they experience 'regular discrimination' when using automated facial recognition systems, and half say they would 'lose trust in a brand or institution' found to have a biased biometric system.

Despite these concerns, biometrics offer the advantages of security and speed, which customers want, particularly in financial services or digital identity transactions. The FIDO Alliance's newly introduced IDV selfie certification program for face verification is a valuable contribution to the effort to establish biometric ID verification that is free of bias, compliant with standards, and secure for users.

A blog from biometric authentication firm Comcorp notes that deepfake scams have targeted 64% of finance professionals in the UK and USA, and that the tools to create deepfakes are easily accessible online. The answer, according to Comcorp's chief commercial officer, is reliable biometric detection capable of running digital video against biometrically captured data to weed out digital replicas.

Meanwhile, GBG's 2024 Global Fraud Report found that fraud is a major concern for businesses, with 96% of fraud prevention professionals surveyed worrying about the industrialisation of fraud, and 79% seeing a significant increase in the sophistication of fraud attempts in the past year.

The FIDO Alliance is a non-profit organization dedicated to developing and promoting authentication standards that help reduce the world's reliance on passwords.Comcorp is a biometric authentication firm that offers a biometric authentication tool called Curata, which targets the financial services industry.

GBG is a UK-based company that offers onboarding intelligence through its GBG Trust platform.Deepfakes created with generative AI are a growing concern in the financial and digital identity verification sectors. The rise of deepfake fraud has led to a surge in demand for biometric detection tools that can accurately verify identities online.

FAQS:

Q: What is the main concern surrounding biometric systems?

A: One in four respondents feel they experience 'regular discrimination' when using automated facial recognition systems, and half say they would 'lose trust in a brand or institution' found to have a biased biometric system.

Q: What are the advantages of biometrics in identity verification?

A: Biometrics offer the advantages of security and speed, which customers want, particularly in financial services or digital identity transactions.

Q: How can financial institutions protect themselves against deepfake fraud?

A: The answer is reliable biometric detection capable of running digital video against biometrically captured data to weed out digital replicas, as well as layering processes with multiple checks and balances.

Q: What is the impact of fraud on businesses?

A: Fraud is causing an epidemic of fraud burnout, with three in four fraud prevention professionals surveyed experiencing burnout in their job due to the rising levels of fraud.

Q: What is the solution to deepfake fraud?

A: The solution is to use biometric detection tools that can accurately verify identities online, as well as implementing strict onboarding processes that ask for both biometric and physical proof of identity.

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