New research from Jumio also reveals consumers
continue to overestimate their ability to spot deepfakes and want
governments to do more to regulate AI
Jumio, the leading provider of automated, AI-driven identity
verification, risk signals and compliance solutions, today released
the Jumio 2024 Online Identity Study, the third installment of its
annual global consumer research. This year’s results highlight
significant concerns among consumers about the risks associated
with generative AI and deepfakes, including the potential for
increased cybercrime and identity fraud.
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The study examined the views of more than 8,000 adult consumers,
split evenly across the United Kingdom, United States, Singapore
and Mexico. The results suggest nearly three-quarters of consumers
(72%) worry on a day-to-day basis about being fooled by a deepfake
into handing over sensitive information or money. Only 15% of
global consumers — and only 7% in Singapore — said they’ve never
encountered a deepfake video, audio or image before.
Even with high anxiety around this increasingly prevalent and
ever-evolving technology, consumers continue to overestimate their
own ability to spot deepfakes — 60% believe they could detect a
deepfake, up from 52% in 2023. In Singapore, this number rises to
77%. Globally, men were more confident in their ability to spot a
deepfake (66% men versus 55% women), with men aged 18-34
demonstrating the most confidence (75%), while women aged 35-54
were least confident (52%).
“As generative AI advances, the incidence of deepfakes continues
to rise, revealing a significant gap in our collective ability to
detect these deceptions,” said Stuart Wells, Jumio’s chief
technology officer. “This continued overconfidence underscores the
critical need for stronger public education and more effective
technological solutions. It’s essential that businesses and
consumers collaborate to enhance digital security measures to
effectively prevent identity fraud.”
A significant majority (60%) of consumers call for more
governmental regulation of AI to address these issues. However,
regulatory trust varies globally, with 69% of Singaporeans
expressing trust in their government’s ability to regulate AI,
compared to just 26% in the UK, 31% in the U.S. and 44% in
Mexico.
The true cost of online fraud
Fraud is an all-too-familiar issue for many consumers across the
globe, with 68% of respondents reporting that they know or suspect
that they’ve been a victim of online fraud or identity theft, or
that they know someone who has been affected. U.S. consumers were
most likely to be direct victims of fraud (39%) either knowingly or
by suspicion, and Singapore was the top country to report knowing a
victim (51%).
While nearly half (46%) of the consumers who were or suspected
they were a victim of online fraud or identity theft said the
ordeal was a minor inconvenience, 32% said it caused significant
problems and several hours of administrative work to resolve, and
14% went as far as calling it a traumatic experience.
Regardless of whether they’ve been a victim of fraud or identity
theft, most consumers worry daily about falling victim to data
breaches (79%) and account takeover attacks (77%).
Balancing security and user experience for identity
verification
Identity verification is a key part of the solution for
companies looking to secure themselves and ensure that their users
are genuine. More than 80% of Singapore consumers said they’d be
willing to spend more time on identity verification if those
measures improve security in industries including financial
services (85%), the sharing economy (85%), healthcare (85%),
government (84%), travel and hospitality (84%), retail and
ecommerce (83%), social media (82%) and telecoms (82%).
When creating a new online account, global consumers said taking
a picture of their ID and a live selfie would be the most accurate
form of identity verification (21%), with creating a secure
password coming in at a close second (19%).
“As we navigate the complexities introduced by generative AI,
the role of sophisticated security systems becomes crucial,” said
Philipp Pointner, Jumio’s chief of digital identity. “To counter
the rise in deepfakes and cyber deception, incorporating
multimodal, biometric-based verification systems is imperative.
These technologies are key to ensuring that businesses can protect
their platforms and their customers from emerging online threats,
and are significantly stronger than passwords and other
traditional, outdated methods of identification and
authentication.”
Find additional data and insights here.
The research was conducted by Censuswide, with 8,077 consumers
split evenly across the United Kingdom, United States, Singapore
and Mexico. The fieldwork took place between March 25 and April 2,
2024. Censuswide abides by and employs members of the Market
Research Society and follows the MRS code of conduct which is based
on the ESOMAR principles and are members of The British Polling
Council.
About Jumio
Jumio helps organizations to know and trust their customers
online. From account opening to ongoing monitoring, the Jumio
platform provides advanced identity verification, risk signals and
compliance solutions that help you accurately establish, maintain
and reassert trust.
Leveraging powerful technology including automation, biometrics,
AI/machine learning, liveness detection and no-code orchestration
with hundreds of data sources, Jumio helps you fight fraud and
financial crime, onboard good customers faster and meet regulatory
compliance including KYC and AML. Jumio has processed more than 1
billion transactions spanning over 200 countries and territories
from real-time web and mobile transactions.
Based in Sunnyvale, Jumio operates globally with offices and
representation in North America, Latin America, Europe, Asia
Pacific and the Middle East and has been the recipient of numerous
awards for innovation. Jumio is backed by Centana Growth Partners,
Great Hill Partners and Millennium Technology Value Partners.
For more information, please visit www.jumio.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514516199/en/
U.S. Media Contact Allison Knight 10Fold Communications
jumio@10fold.com 806-570-9819
Europe Media Contact Harriet King FleishmanHillard UK
harriet.king@fleishman.com +44 7765673794
APAC Media Contact Luke Nazir FINN Partners
Luke.Nazir@finnpartners.com +65 8139 2504