In the digital era, remote identity verification is a critical challenge. Confirming a person’s identity without physical, in-person contact is increasingly important and challenging in equal measure.

The use of remote identity verification to onboard new users and authenticate existing ones is broadly adopted across the APAC region yet criminals are continually innovating and developing new ways to circumvent security systems and commit online fraud.

One of the most serious threats to remote identity verification is the use of deepfakes created by Generative AI. While deepfakes are not inherently harmful, they can pose significant security risks particularly since it is now virtually impossible to distinguish synthetic from real imagery with the human eye. AI-powered biometrics have emerged as the most reliable defense against deepfakes and the only reliable method of remote identity verification.

The rapid development of generative AI has also raised concerns about potential misuse, leading to calls for regulation. Many countries across the globe have or are planning to implement regulatory frameworks for generative AI, with a focus on addressing issues such as privacy, data protection, and the spread of misinformation.

What’s clear is these advanced AI tools have an equal and potentially even greater power to create the greatest fraud threats the industry has ever encountered.

The session aims to equip financial institutions with the knowledge and strategies needed to navigate the evolving landscape of identity management in the face of generative AI advancements.