Mitek unveils Digital Fraud Defender

    Dec. 5, 2024
    DFD equips organizations with the tools to counter advanced fraud techniques while maintaining robust identity verification processes.
    Chris Briggs, Chief Products Officer (R) and Adam Bacia, Product Marketing Director (L), of Mitek talking about deepfakes and the explosion of GenAI-based digital identity fraud. View the full video in the original press release, linked below.
    Chris Briggs, Chief Products Officer (R) and Adam Bacia, Product Marketing Director (L), of Mitek talking about deepfakes and the explosion of GenAI-based digital identity fraud. View the full video in the original press release, linked below.

    In today’s rapidly evolving threat landscape, organizations are more vulnerable than ever to AI-driven attacks, including deepfakes, synthetic identity fraud, and account takeovers. According to Deloitte’s Center for Financial Services, fraud losses from generative AI could surge from $12.3 billion in 2023 to a staggering $40 billion by 2027. As incidents of deepfake fraud alone are projected to increase by 700% by 2031, DFD is the first holistic suite of defenses designed to protect organizations and their customers from these risks.

    “Too many organizations and identity vendors are taking a one-off approach to addressing fraud vectors. They try to react to attacks one at a time,” said Chris Briggs, Mitek’s Chief Products Officer. “Digital Fraud Defender was designed to fight AI with AI and enable our customers to outpace modern frauds with a holistic suite of tools.”

    As digital interactions grow, DFD equips organizations with the tools to counter advanced fraud techniques while maintaining robust identity verification processes. By leveraging DFD capabilities, clients mitigate risks, ensure compliance, and maintain customer trust in a rapidly changing digital fraud landscape.

    The Digital Fraud Defender Solution

    DFD, now available within the Mitek Verified Identity Platform, combines Mitek’s proprietary liveness technology with a multi-layered approach to safeguarding IDV processes against AI-based digital fraud. This solution goes beyond surface-level detection by analyzing both content and channels for signs of manipulation, ensuring robust protection across several key fraud vectors:

    1. Injection Attack Detection: Guards against the insertion of manipulated or fake content during verification by analyzing both the content itself and the transmission channel for anomalies.
    2. Template Attack Detection: Identifies the use of fraudulent document templates, even when paired with genuine personal information, by spotting patterns and frequency of recurrence, as well as comparing against known fraud profiles.
    3. Deepfake Attack Detection: Utilizes passive liveness detection to examine video and audio for artifacts unique to AI-generated content, identifying even subtle signs of manipulation.

    For further information about DFD and Mitek’s full portfolio of identity verification solutions, please visit the DFD landing page. To view the original press release with multimedia content, click here.