APR 23, 2024 JLM 80°F 11:53 AM 04:53 AM EST
The growing need for cyber-fraud security

Valery Migirov, Founder of cyber-fraud protection company B24cyber, explains about the increasing risks and how they can be mitigated

Now more than ever, technology is an integral part of our day to day lives. Every aspect of our day to day is becoming ever more digitized, creating an era of convenience that would have been impossible to imagine mere decades ago.

Those advances do not come without their vulnerabilities though, as cyber-attacks are now a very real concern, with cyber-criminals constantly finding new ways to gain access to personal and financial data potentially giving them the ability to cause widespread damage and disruption.

With the advent of deepfake technologies, criminals can now impersonate someone's appearance, as well as their texting habits and their manner of speaking in order to commit fraud.

Thankfully, just as antivirus software was created to counter the spread of computer viruses in the late 80s, new anti-fraud security technologies are now being developed to counter this new vector for cyber-attacks.

B24Cyber’s outstanding team of software engineers specializing in machine learning, artificial intelligence and data science have developed real-time video recognition algorithms that can identify people's faces in videos with the ability to distinguish them from Deepfakes using a combination of physical indicators as well as visual anomalies, such as inconsistencies in facial features.

Furthermore, the software uses NLP (Natural language processing) AI to analyze text from messenger, text messages and email apps to recognize any specific person’s texting habits, as well as detecting and identifying speech patterns in real-time while you are using a video-messaging app, not only confirming caller identity, but even providing insight into the tone and intentions of the person on the other end of the call.

While this kind of technology will eventually become easily accessible for anyone's day-to-day usage, the most immediately practical use cases for this kind of cybersecurity and anti-fraud technology include financial institutions, such as banks and insurance providers, infrastructural institutions such as healthcare providers, and perhaps most pertinently, intelligence agencies.

Image - Shutterstock

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