UK banks implement enhanced security measures against rising AI voice clone scams.
UK banks are enhancing security to combat rising AI voice clone scams, where fraudsters mimic voices to trick individuals into transferring money. Santander employs Lynx Tech's AI to analyze transaction behavior, while Monzo has introduced a trusted contacts feature for transfer confirmations. NatWest is improving authentication measures. New rules from the Payment Systems Regulator will reduce scam refund limits, pressuring banks to address application fraud.
September 27, 2024
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