Ways Banks and Utility Companies Combat Face Fraud Using Veridas Software

CHICAGO (WLS) — Facial recognition technology is commonly used by consumers to access their accounts and confirm their identities. However, the ABC7 Chicago I-Team has discovered that scammers are now exploiting this technology to deceitfully open accounts in other people’s names.

Initially designed to enhance consumer protection, facial recognition technology is now being manipulated by criminals who utilize artificial intelligence to replicate individuals’ facial features. In response, companies are actively engaged in combating this form of “face fraud.”

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Perpetrators of fraudulent activities can easily source an individual’s photo from social media platforms or driver’s licenses and leverage artificial intelligence to superimpose that image onto their own face. Subsequently, they can complete the account opening process by utilizing the manipulated image in conjunction with a phone camera.

“Fraudsters can generate a fake identity of things, disguise a new identity, a new image of a person, and then indicate that into the system. So, instead of using the picture being taken by the camera of your smartphone, then they try to inject a different video into the system,” Veridas Chief Technology Officer Javier San Agustin said.

Veridas is one company that’s using AI to stop scammers who are trying to open “fraudulent face” accounts.

“We have models that detect cases where those images don’t correspond to a real person and are not being captured with a camera. So, that’s one area where we have a layer of security. But it’s not only that. We also ensure that the device that is being used to capture those pictures and videos is, its integrity, is secure,” San Agustin said. “So, this is one of my colleagues who has recorded a video of himself, and has overlaid a deepfake using a picture of me. So, this is not the real me. It’s a combination of all of his head movements and then my face on top of it. So, it’s a deepfake.”

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Veridas says its technology, which monitors head movements, can catch the ruse, and stops the fraudster from opening the account.

“What we get here is a notification, an alert, saying, ‘hey, we detected the possible injection attack,’ and then the process has been rejected,” San Agustin said.

The company and others like it don’t sell their technology to consumers. It’s purchased by banks and utility companies to help them fight the face fraud.

Make sure to hold on tight to your passport and license, and never post those pictures online.

Also monitor your credit in case someone tries to open an account in your name.

Make sure to shred documents with your social security number and other personal information.