Biometrics is widely regarded as one of the most effective technologies for ensuring security and detecting criminality. Because of the importance of biometrics in authenticating and preventing fraud, it is frequently employed in the form of fingerprints, face recognition, voice recognition, and other biometrics.
Criminals have advanced to the point where they are creating their artificial intelligence systems, self-learning algorithms, and other technologies to get illicit access to data and susceptible systems. Cyber scams have spread to new routes in recent years, and they may easily fool us by altering biometric data.
Last year, fingerprints from a lady from Kolkata were unlawfully used in Rajasthan to perpetrate forgeries and other offenses. The victim supplied her thumb imprint to receive a mobile sim card, according to the TOI report, and the same biometric data was used to perpetrate the crimes. Identity theft cases involving the use and manipulation of biometrics are becoming increasingly common in the retail and banking sectors.
There are two primary forms of biometric fraud, according to Accenture research. Impersonation and obfuscation are two of them. Impersonation occurs when a faker uses biometric information to impersonate a specific person and then commits crimes or transacts illegally.
Deepfakes is another modern technology used in cyber fraud. Criminals can easily target their victims by creating fake videos and voice messages. Users can swap faces in a video or image to make it appear real using this suspicious technology. Frauds involving voice spoofing can also be classified as deep fakes.
Deepfakes are commonly used in identity theft and facial recognition system manipulation. Ransomware attacks can essentially take advantage of these disruptive technologies, and we have now reached a point where they are being widely exploited for profit. Using biometrics to launch cybercrime in the retail sector can result in massive financial losses, wreaking havoc on financial institutions and businesses.
Experts suggest that multiple checks and authentication through multiple biometric methods can be beneficial in preventing frauds that use and manipulate biometric data. Companies should promote better spoof-detection strategies and conduct detailed and comprehensive analyses of sensitive data and financial transactions.
It’s important to remember that AI can detect threats and frauds. New advancements in this field would also help in the fight against cyber fraud.