Preparation to deal with Deep Fake fraud, 12 PSU banks joined hands, now the truth will come out in 30 seconds

Business News Desk,In the growing era of digital banking, cases of fraud using deepfake technology are increasing rapidly. Hackers have now started using Artificial Intelligence (AI) to cause harm to customers by stealing their identities. They use fake video KYC to open bank accounts, misuse customers’ personal information, freeze accounts and approve large financial transactions. To deal with the threats of deep fakes and artificial intelligence, 12 big public sector banks of the country have decided to come together.

Any audio-video will be examined in 30 seconds
To deal with the threats of deep fakes and artificial intelligence, 12 big public sector banks of the country are coming together to create a platform that will be able to identify deepfake videos and audios. This platform will check any video or audio in 30 seconds and give it a rating. If a video has a low rating, it will indicate that it is a deepfake. This measure will be used in every video KYC and other authorization process, which will make it easier for banks to identify and prevent fraud.

12 banks will use the same platform
12 banks will use the same platform, which will reduce their technical expenses and improve security. Under this initiative, PSB Alliance Private Limited has been entrusted with the responsibility of building this platform, which has also received approval from the government. This step of government banks is a big effort to make digital banking secure and reliable, which will prove to be extremely important to ensure the security of customers.