In the growing era of digital banking, cases of fraud using deepfake technology are increasing rapidly. Hackers are now using artificial intelligence (AI) to steal the identity of customers and harm them. They open bank accounts with fake video KYC, misuse the personal information of customers, empty accounts, and reach the approval of large financial transactions. To deal with the threats of deepfake and artificial intelligence, 12 big government banks in the country have decided to come together.

Any audio-video will be checked in 30 seconds.

To deal with the threats of deepfake and artificial intelligence, 12 big government banks in the country are coming together to build a platform that will be able to identify deepfake videos and audio. This platform will check and rate any video or audio in 30 seconds. If the rating of a video is low, it will indicate that it is 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 given the responsibility of building this platform, which has also received approval from the government. This move of government banks is a big effort to make digital banking safe and reliable, which will prove to be extremely important to ensure the safety of customers.