Coordinated Bot Mega-Attack and Escalating Deepfake Threats Severely Impact APAC Region

AU10TIX, a leading global technology firm specializing in identity verification and management, has released its Q2 2024 Global Identity Fraud Report. The report, based on millions of transactions processed globally from April to June 2024, reveals troubling trends in organized identity fraud, including a dramatic rise in automated bot attacks and deepfake incidents.

1. Key Findings of Q2 2024 Report:

   • Surge in Bot Attacks: Social media platforms have seen the highest number of automated bot attacks ever recorded by AU10TIX. The proportion of attacks targeting social media rose from 3% in Q1 to 16% in Q2.
   • APAC Region Vulnerabilities: The APAC region experienced a significant mega-attack in the payments sector, with over 5,000 fraudulent onboarding attempts. Additionally, the region has seen a 1,530% increase in deepfake incidents and a 24% rise in fraud rates from 2022 to 2023.

2. Impact of Bots and Deepfakes:

   • Impersonation Bots: According to Imperva's 2024 Bad Bot Report, impersonation bots account for 32% of internet traffic. These bots use deepfake technology to create convincing fake profiles for spreading disinformation, malware, and manipulating online interactions.
   • Financial Fraud: The fraudulent accounts created by these bots often facilitate money laundering and other sophisticated financial crimes.

3. Statements from Leadership:

   • Dan Yerushalmi, CEO of AU10TIX: Highlighted the efficiency and danger of bots and deepfake technology in automating complex scams, making them difficult to detect with traditional methods. AU10TIX's Serial Fraud Monitor is noted as a key solution for detecting widespread bot-driven fraud.

4. Positive Developments:

   • Disruption of Criminal Networks: AU10TIX analysts observed a 17% decline in attacks targeting the payments sector in Q2, attributed to INTERPOL'S HAECHI IV and First Light operations, which targeted online financial crime and social engineering fraud.

5. Actionable Insights for Organizations:

   • Self-Regulation of Social Media: Platforms should require users to authenticate their identity to maintain credibility and prevent fraud.
   • Advanced Fraud Detection: Leveraging deepfake detection and consortium validation technologies can combat social media impersonation.
   • Multi-layered Authentication: Implementing KYC/KYB solutions, biometric verification, and advanced fraud detection tools can enhance defenses against identity fraud.

The AU10TIX Q2 2024 Global Identity Fraud Report underscores the growing threat of automated bot attacks and deepfakes, particularly in the APAC region. Organizations are encouraged to adopt advanced fraud detection technologies and multi-layered authentication measures to protect against these evolving threats.