Jumio soars higher with the rise of generative AI fraud.

Jumio, a digital identity company, unveiled its 360-degree fraud analytics tool at Money20/20 USA. The tool uses generative AI to detect and prevent fraudulent activities by creating a data-driven network that connects transactions and identifies traces of fraudulent behavior. Jumio’s Chief of Digital Identity, Philipp Pointner, highlighted the growing influence of generative AI in fraud, noting that fraudsters now have access to tools that can generate fake IDs at the click of a button. This technology allows them to create thousands of fake IDs quickly and easily, making it more challenging for businesses to identify and prevent fraud.