What emerging patterns of fraud have financial institutions observed recently?

Last year, there was a notable increase in digitally manipulated identities, with fully altered identity documents surpassing physical counterfeits as the attack method of choice for fraudsters. The prevalence of generative AI has made deepfake fraud attempts alarmingly frequent, occurring as often as every five minutes, which establishes the necessity for high assurance and adopting a robust zero-trust approach to identity management. As we move into 2025, professional fraud rings have become more organized, sharing methodologies and providing fraud-as-a-service to equip amateur fraudsters, thereby increasing the volume and reducing the costs of fraud attempts. This ever-evolving landscape demands a provider that’s always two steps ahead. In 2024, Entrust acquired Onfido, a leader in AI-powered digital identity verification. Now part of Entrust, our award-winning AI, developed in-house and trained on millions of verification attempts, is fine-tuned to combat emerging fraud threats such as generative AI, deep fakes, synthetic identities, and beyond. Our Fraud Lab remains at the forefront of identity fraud prevention, continuously trained and benchmarked against the latest attacks before they impact on your systems, effectively safeguarding our clients.

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Testimonials

Dennis Tangonan

SVP and Chief Information Officer

Security Bank Corporation

Arnold Kabanlit

Deputy Director, Compliance and Supervision Group, Detection and Prevention Department

Anti-Money Laundering Council (AMLC)

Paul Siy

Chief Technology Officer

BDO Unibank Inc

LITO VILLANUEVA

Executive Vice President and Chief Innovation & Inclusion Officer

RCBC

KIRAN MISTRY

Head of Financial Services, APJ

SAP

DR. ADRIENNE HEINRICH

Vice President and Head of Al Center of Excellence

UNION BANK OF THE PHILIPPINES

DONDON TORRES

Senior Sales Engineer

Snowflake

RONALDO BATISAN

Senior Vice President - Customer Experience

UNION BANK OF THE PHILIPPINES

RICO BAUTISTA

President and CEO

ETIQA LIFE & GENERAL ASSURANCE PHILIPPINES, INC

PAUL SIY

CTO, Head of Infrastructure and Operations

BDO Unibank

LUCOSE ERALIL

Executive Vice President Head, Enterprise Technology & Operations

SECURITY BANK

KRISIA MICHELEE CRUZ

Chief Product Officer

KOMO BY EASTWEST

KAIJIE HO

Senior Account Executive

SEON

ANANYA ANANTH

Channel Manager - ASEAN

Freshworks

AIMEE KATHLEEN TANN

Vice President, Head of Experience Design

BDO Unibank

VARUN BUDHIRAJA

Account Executive

AppsFlyer

JOSE CARLOS REYES

Director-Cybersecurity Bureau

Department of Information and Communications Technology (DICT)

AHMED DRISSI

Industry Principal Consultant for AML

SAS GLOBAL

ANATOLY GUSTO

BANGKO SENTRAL NG PILIPINAS

Bank Officer V

BALAJI VISWANATHAN

Managing Director & CEO

EXPLEO SOLUTIONS LIMITED