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In this episode of FinTech Confidential Uncut, host Tedd Huff talks with Jeff Scheidel, VP of Operations at AuthID, about the rise of AI-driven fraud targeting financial institutions. They explore how deepfakes, voice cloning, and large language models are enabling scammers to impersonate executives, create synthetic identities, and build fake websites and phishing emails with alarming accuracy. Real cases include a $25 million loss from a deepfake video call and voice cloning scams using only seconds of audio.

The episode highlights the limitations of current security tools, such as facial recognition failing due to minor appearance changes, and the inefficiency of manual fraud reviews. Jeff explains how biometric systems using passive liveness detection and cryptographic keys offer stronger protection without storing facial data. The discussion makes clear that financial organizations must quickly adopt smarter authentication methods and better user education to stay ahead of rapidly advancing threats.

Takeaways

1️⃣ Stop Falling for Fake Customer Support

2️⃣ Watch How One Photo Fakes a Live Identity

3️⃣ Use Biometrics to Expose Deepfake Lies

4️⃣ Catch Scammers Building Fake Credit Profiles

5️⃣ Block Voice Scams Made in Under 5 Seconds

Links:

Jeff Scheidel

LinkedIn: https://www.linkedin.com/in/jeffscheidel/

authID

Website: https://www.authid.ai

LinkedIn: https://www.linkedin.com/company/authid

Twitter: https://twitter.com/authIDai

Facebook: https://www.facebook.com/authidai/

Instagram: https://www.instagram.com/authid.ai/

YouTube Channel: https://www.youtube.com/@authID-we-are-digital-identity

Fintech Confidential

Podcast: https://fintechconfidential.com/listen

Newsletter: https://fintechconfidential.com

LinkedIn: https://www.linkedin.com/company/fintechconfidential

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Supporters

Skyflow – A zero trust data privacy vault API for secure data collection and compliance: www.skyflowsecure.com

Solvpath – AI-powered platform that reduces support tickets and guides users in real time: www.solvpath.com

Clearingworks – Unified accounts receivable platform for streamlined financial workflows: www.clearingworks.com

Hawk AI – Real-time fraud detection and compliance tools with AI-driven monitoring: www.get.hawkai.com

About:

Guest

Jeff Scheidel is the Chief Operating Officer at authID, with over 40 years of experience in software, specializing in identity and access management. He has held leadership roles at Oracle and Socure, where he contributed to revenue growth and organizational restructuring.

authID (Nasdaq: AUID) delivers fast, accurate biometric identity verification that helps enterprises know who’s behind every login and transaction. With industry-leading authentication speeds and privacy-first design, authID stops fraud from onboarding through account recovery.

Host:

Tedd Huff is the Founder of Voalyre, and Diamond D3, professional services consulting firms focused on global payments and marketing. He is also a video podcast host and executive producer on the Fintech Confidential network.

Over the past 24 years, he has contributed to FinTech startups as an Advisory Board Member, Co-Founder, and Chief Experience Officer, providing strategic and tactical direction for Global Payments OpenEdge, Heartland Payments, Nuvei, and TSYS, among others, focusing on growth while delivering innovation, process improvements and user experience-driven value to simplify the complexity of payments.

Diamond D3, Media is a media creation, management, and production company delivering engaging content globally.