
DoJ conducts probe into Live Nation and AEG cancellations, Bloomberg News reports
May 15 (Reuters) - The U.S. Justice Department is conducting a criminal antitrust probe on AEG and Live Nation's (LYV.N), opens new tab response to concert cancellations at the beginning of the pandemic in 2020, Bloomberg News reported on Thursday, citing people with knowledge of the matter.
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FF News
44 minutes ago
- FF News
Synthetic Identity Document Fraud Surges 300% in the U.S. - Sumsub Warns E-Commerce, Healthtech and Fintech at Risk
Sumsub , a global leader in verification, today released Q1 2025 identity fraud trends based on internal data, revealing a dramatic rise in AI-enabled fraud across the United States . According to platform data, deepfake fraud has surged by 1100%, while synthetic identity document fraud rose by over 300% with attackers exploiting generative AI to create fake passports, IDs, and biometric data. Sumsub analyzed millions of verification checks conducted on its platform between January and March 2025 across industries such as fintech, e-commerce, healthtech, and edtech to uncover emerging fraud trends. One of the most pressing concerns is the rise of synthetic identity document fraud, where criminals use AI tools to generate fake identity documents such as driver's licenses or passports. These synthetic identity documents are often realistic enough to bypass basic KYC checks, posing a significant challenge for businesses. Unlike synthetic identity documents, which involve the creation of entirely fake personas using a mix of real and fabricated data, synthetic identity documents refer specifically to falsified documents or images generated by AI. Fraudsters then use these AI-generated visuals to open accounts, conduct illicit transactions, or bypass compliance processes, making detection increasingly difficult without advanced verification tools North America-Specific Insights (Q1 2025): Synthetic identity document fraud spiked by 311% in North America compared to Q1 2024 , making it the region's most alarming growth vector. , making it the region's most alarming growth vector. Deepfake fraud jumped by 1100%, marking a clear signal that generative AI is being used to bypass facial recognition and biometric checks. marking a clear signal that generative AI is being used to bypass facial recognition and biometric checks. High fraud activity was recorded in e-commerce, healthtech and edtech ––industries have seen accelerated digitization post-pandemic. ––industries have seen accelerated digitization post-pandemic. The U.S. in particular saw a sharp increase in fintech fraud attempts, underscoring the need for real-time, multi-layered fraud prevention solutions. Key Global Findings (Q1 2025): Synthetic identity document fraud is rising across all regions, fueled by widespread access to GenAI tools that can generate highly realistic fake IDs. Top markets for synthetic identity document fraud include: Ethiopia (2.17%) Pakistan (2.08%) Nigeria (1.52%) Other notable markets: Hong Kong (0.99%), Indonesia (0.84%), Turkey (0.80%) Deepfake-related attacks are growing globally, particularly to bypass biometric systems—now one of the fastest-evolving fraud vectors. Healthtech fraud attempts rose by 384%, signaling its emergence as a high-value target alongside fintech and e-commerce. Regional deepfakefraud surges: Canada : 3,400% Hong Kong : 1,900% Singapore : 1,500% Mainland China : 1,183% Germany : 1,100% United Kingdom : 900% United States : 700% 'The pace at which fraud tactics are evolving is staggering,' said Andrew Sever , CEO of Sumsub. 'As generative AI becomes more accessible, so does the ability to generate synthetic identity documents and deepfakes at scale. What we're seeing is a broader trend, in which Fraud-as-a-Service is becoming a reality, where malicious actors can easily access sophisticated tools to carry out attacks. Businesses can no longer rely on outdated verification tools. It's imperative they adopt an intelligent, adaptive approach to stay ahead.' To combat this new wave of fraud, Sumsub continues to invest in advanced AI-powered fraud detection, document authenticity analysis, and biometric defense tools to protect businesses and users worldwide. The company urges organizations to stay proactive by integrating multi-layered verification and continuous monitoring into their onboarding and transaction workflows. People In This Post Andrew Sever Sumsub


Reuters
an hour ago
- Reuters
Oracle shares soar as AI cloud demand propels revenue forecast
June 11 (Reuters) - Oracle (ORCL.N), opens new tab shares surged nearly 8% in premarket trading on Thursday after the company raised its annual revenue forecast, driven by strong demand for its AI-related cloud services. The stock has risen nearly 6% so far this year as confidence in the software sector remained strong despite geopolitical tensions, even as analysts warn that U.S. President Donald Trump's tariffs could undermine Big Tech's AI investments. Earlier this year, Oracle, whose cloud offerings help companies build their AI infrastructure, announced a joint venture called Stargate to deliver large-scale computing capabilities to OpenAI. "Oracle's once-stodgy image levels up to 'cloud-native mage,' and the competitive map now looks less like a classic three-player real time strategy and more like a battle-royale with everyone dropping in, looking for compute loot", said Michael Ashley Schulman, partner at Running Point Capital Advisors. Oracle expects total revenue to be at least $67 billion for fiscal 2026, CEO Safra Catz said on a post-earnings call. The Texas-based company's cloud services quarterly revenue rose 14% to $11.70 billion. Its overall revenue of $15.90 billion beat estimates of $15.59 billion. At least nine brokerages have raised their price target post-earnings. Oracle trades at a forward price-to-earnings ratio of 25.86, compared to rivals Microsoft at 31.34 and Amazon at 31.80, according to data compiled by LSEG. Microsoft's (MSFT.O), opens new tab stock has gained 12.16%, while Amazon's (AMZN.O), opens new tab has decreased by 2.8% so far this year. "ORCL has entered an entirely new wave of enterprise popularity that it has not seen since the Internet era in the late 90s," analysts at Piper Sandler added.

Finextra
an hour ago
- Finextra
Paynt acquires Canada's E-xact Transactions
Paynt, a leading European payment technology company, today announced its acquisition of Canadian firm E-xact Transactions, marking a major milestone in the company's strategic expansion across North America. 0 Paynt currently processes payments across the European Economic Area and the United Kingdom, with regional offices in the UK, Ireland, the Baltic States, and the United States. The acquisition of E-xact, which processes over CAD 3.5 billion annually across more than 50 million transactions, will add a new operational hub in Vancouver, Canada. To support this North American growth, Paynt has appointed payments industry veteran JohnPaul Golino to its board of directors. Golino will lead the integration of E-xact into Paynt's platform and oversee regional go-to-market efforts. 'With a new established presence in Connecticut and Vancouver, we're entering a new chapter in building Paynt's North American footprint and reinforcing our global leadership in payment solutions,' said Sam Kohli, founder and Group CEO of Paynt. Founded over 25 years ago, E-xact Transactions delivers lightning-fast, secure payment processing — with sub-one-second transaction times — and supports leading e-commerce platforms such as Shopify, Magento, and WooCommerce. 'This acquisition not only expands our reach but enhances the solutions we bring to merchants and partners across Canada,' said JohnPaul Golino. 'We thank MAPP Advisors for their guidance in connecting us with E-xact — this is the beginning of a powerful new phase.' Paynt is also actively evaluating additional acquisition targets in the United States, with plans to finalize another deal by the end of 2025.