GenAI payment fraud forces multilayered biometric approach to defense

Many payment systems have turned to biometrics to secure user onboarding in the last few years to detect and prevent fraud at the beginning of the transaction journey. But with new tools emerging for fraudsters, including generative AI, more sophisticated fraud attacks are being carried out and more easily scaled at more different parts of the process.

Biometric fraud protections have been keeping pace, however, allowing those who adopt them wisely to defend against sophisticated attacks throughout the payment lifecycle.

Mitek and Goode Intelligence addressed the worrying state of affairs and how to proactively address it in a recent webinar on “Stopping GenAI fraud in payments: How biometrics keep criminals out,” hosted by Biometric Update. The webinar is now available to watch on-demand.

Goode Intelligence Principal Analyst and CEO Alan Goode identified increasingly popular attack types, like bust-out fraud and account take-overs (ATOs), and shared insights from his recent “Biometric Payments – Market & Technology Analysis, Adoption Strategies, and Forecasts 2025-2030” report.

Mitek Director of Market Strategy and Intelligence Carmel Maher described the different kinds of sophisticated payment fraud attacks that her company is observing in the wild, including both ID cards and supposedly live selfies used to match face biometrics against them, carried out with GenAI. Deepfakes, injection attacks, and synthetic identities are all easier to carry out and scale than just a few years ago, and can be utilized by unskilled attackers.

But defenses have expanded too, and a key highlight emphasized by Maher is the need to layer these defenses to cover the various known and emerging attack vectors used against payment systems.

“What we found is very useful with things like deepfakes or injection attacks or anything that’s more of an advanced form of these fraud problems is making sure that you have a layered approach that’s looking at more than just one solution component,” Maher stated.

The discussion also delved into questions about biometric data security, user experience and Mitek’s dedicated “purple team.”

Fill out the registration form to receive not only a link to watch the webinar on demand, but also a link to a free whitepaper on the topic.

Article Topics

AI fraud  |  biometric authentication  |  biometric liveness detection  |  biometrics  |  deepfakes  |  fraud prevention  |  generative AI  |  Goode Intelligence  |  injection attacks  |  Mitek  |  onboarding