One in four Europeans has fallen victim to an online scam, from identity fraud to fake romances. The rise of artificial intelligence is ushering in new risks. Minh Nguyen, Chief Product Officer at security solutions provider Entrust, says both online platforms and governments can play a role in protecting consumers and businesses.
"The last couple of years have been fascinating in terms of seeing the evolution of the fraud landscape, and it ultimately boils down to how we create trust," Nguyen says. "We've seen the rise of deepfakes and AI, and it's much easier now for fraudsters to take your voice, to take images that are publicly available on social media, and try and recreate your identity, to impersonate you, in an attempt to access, for example, your bank account."
