VIDA: The Majority of Digital Fraud Starts from Weak Identity Verification

JAKARTA - VIDA, a provider of digital identity services and fraud prevention in Indonesia, revealed that most of these fraud actions start from weak digital identity verification.

VIDA Founder & Group CEO, Niki Luhur, emphasized that this fraud is exacerbated by the increasingly sophisticated development of artificial intelligence (AI), ranging from AI-edited photos to deepfake video calls.

"If in 2023 visual manipulation is still easy to recognize, in 2024 the quality will increase to high quality deepfake," Niki said in his statement.

In fact, he said, someone only needs a 15-minute voice recording to make a voice clone, or one simple prompt to make a fake photo that looks real.

Niki then gave an example of a case about a device farm fraud that was connected to around 48 million accounts globally and a case of hacking crypto assets of around 1.5 billion US dollars by a group of hackers allegedly supported by the state.

"Five years ago, something like this might have sounded like an episode in a TV series. But now it's real," he said. He emphasized that this phenomenon is an opportunity to update digital security standards.

In addition to technology, VIDA also emphasizes the need for collaboration between industry players, regulators, and the media to increase awareness and strengthen efforts to fight digital fraud.

With stronger identity verification standards and a moving ecosystem, VIDA believes that people's digital security can be maintained in the midst of rapid development of generative technology.