Synthetic identity fraud has been a constant challenge for the financial industry. By creating believable, fake identities, criminals can defraud banks, launder money, and hide ill-gotten gains. 87% of organizations have extended credit to synthetic customers, including 54% who applied for it, and 53% to whom the institution itself offered the credit in the first place. Online banking and digital transactions make it easy to hide automation.

But AI is poised to take this fakery to an entirely new level. Automation lets fraudsters open accounts, make deposits, and perform believable, human-like transactions that make them hard to identify. Combined with generative capabilities that make perfectly deceptive words and imagery, we're on the verge of an identity arms race.

In this session, Deduce's Ari Jacoby will explore how AI is transforming finance, making it harder than ever for financial institutions to discern fake customers from genuine ones. He'll discuss what this post-truth era means for society as a whole, and offer tips and best practices for businesses to counter the impact of AI-equipped bad actors.