Jumio, a provider of automated, AI-driven identity verification, risk signals, and compliance solutions, has released the Jumio 2024 Online Identity Study. This third annual global consumer research highlights significant concerns among consumers regarding the risks associated with generative AI and deepfakes, particularly the potential for increased cybercrime and identity fraud.
The study surveyed over 8,000 adult consumers evenly distributed across the United Kingdom, United States, Singapore, and Mexico. Results reveal that nearly three-quarters of consumers (72%) worry daily about being deceived by a deepfake into giving away sensitive information or money. Only 15% of global consumers, and just 7% in Singapore, reported never having encountered a deepfake video, audio, or image.
Despite these high levels of anxiety, many consumers continue to overestimate their ability to detect deepfakes. Sixty percent believe they can spot a deepfake, an increase from 52% in 2023. This confidence is highest in Singapore, where 77% believe they can identify deepfakes. Globally, men are more confident in their detection abilities (66% men versus 55% women), with the most confidence seen in men aged 18-34 (75%).
“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.”
The study also found that 60% of consumers support more governmental regulation of AI to address these issues. Trust in government regulation varies, 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.
Fraud remains a prevalent issue, with 68% of respondents reporting that they know or suspect they’ve been a victim of online fraud or identity theft, or know someone who has been affected. U.S. consumers were most likely to be direct victims of fraud (39%), and Singapore had the highest percentage of respondents knowing a victim (51%).
While nearly half (46%) of those who were or suspected they were victims of online fraud or identity theft described the ordeal as a minor inconvenience, 32% reported significant problems requiring several hours of administrative work, and 14% called it a traumatic experience.
Regardless of personal experience with fraud, 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 crucial for companies aiming to secure their platforms and ensure user authenticity. Over 80% of Singaporean consumers are willing to spend more time on identity verification if it enhances security across various industries, including financial services (85%), the sharing economy (85%), healthcare (85%), government (84%), travel and hospitality (84%), retail and e-commerce (83%), social media (82%), and telecoms (82%).
When creating a new online account, global consumers favored taking a picture of their ID and a live selfie as the most accurate form of identity verification (21%), with creating a secure password coming in 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.”
