For this episode, Mike speaks to Gautam Hazari an influential TED speaker and the visionary CTO of sekura.id. He is at the forefront of developing innovative security solutions that tackle the complex challenges of identity management and fraud prevention.

They start by looking at the impact fraud is having on businesses and why the situation is about to get a lot worse. Before discussing what you and the tech industry can do to mitigate fraud. Including being ready for when the fraudsters start using AI bots to work on an even larger scale than they are doing now.

 

KEY TAKEAWAYS

• Deepfakes are already being used in real-time using voice and video.
• Fraudsters are now training AI bots to carry out their fraud for them so they are not reliant on how fast their staff can work.
• When a business is a victim of fraud, the trust clients and investors have in them is undermined which can trigger them to look to your competitors.
• Fraudsters use our chemistry against us. They turn on and appeal to the emotional side of our brains. They try to scare you or appeal to greed.
• Time is your friend. Pausing and counting backwards from 30 before taking action engages your logical brain and helps you to spot fraud more often.
• Passwords no longer work. It is too easy for fraudsters to steal those details from companies. Even password credential managers.
• Between 80 to 86% of data breaches are related to credential (identity) failure. That is why sekura id is focused on providing better ways to confirm someone´s ID.
• Cryptographic authentication tied to their SIM gives everyone, including those in poorer countries, a far higher level of security.
• There does not need to be a privacy issue, mobile providers are already heavily regulated.

 

BEST MOMENTS

02:59 “ 6% of global GDP is impacted due to fraud." 

08:41 "When they (fraudster employees) are replaced by these AI chatbots, there is no scaling problem… and that's scary." 

33:56 "The internet doesn't have an identity layer." 

50:36 "These startups are getting targeted more now because they are easy targets if they want to do everything themselves." 

53:22 "Passwords are a problem." 

57:11 "The SIM is nothing more than a cryptographic engine…It's a hardware-based cryptographic engine." 

1.03.05 “Every single phone on earth has a SIM providing or doing that cryptographic protection right now. Why don't we use that?”

1.1.52 “It's not going to be a man-in-the-middle attack, it will be AI-in-the-middle attacks.”

 

EPISODE RESOURCES

https://sekura.id

https://www.linkedin.com/company/sekura-id

https://www.ted.com/talks/gautam_hazari_digital_me_why_we_need_a_world_without_passwords

https://www.forbes.com/councils/forbestechcouncil/people/gautamhazari

https://www.verizon.com/business/resources/reports/dbir

https://www.netflix.com/es-en/title/81183491

 

ABOUT THE HOST

Meet Mike, a seasoned tech entrepreneur and visionary with over two and a half decades of invaluable experience in founding and scaling successful tech start-ups. Mike brings a wealth of firsthand knowledge, and a deep understanding of the challenges faced by entrepreneurs and tech professionals.

As a host, Mike is dedicated to sharing actionable insights, strategies, and stories gathered from conversations with industry leaders, innovators, and experts. With a remarkable ability to distil practical wisdom from guests, Mike curates engaging discussions that resonate with both aspiring entrepreneurs and seasoned professionals.