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Trust Stamp announces allowance by the United States Patent and Trademark Office ("USPTO") of a Non-Provisional Patent Application in respect of technology designed to identify deep fake and other Generative AI fuelled attacks in identity authentication processes

IDAI
  • Trust Stamp (NASDAQ: IDAI) announced the USPTO issued a notice of allowance for Non-Provisional Patent Application No. 18/145,470.
  • The patent covers proprietary systems & processes for multifactor authentication & identification.
  • The technology utilizes anonymized data from historic attacks to identify attacks in future transactions.
  • CEO Gareth N. Genner stated identity fraud cost American consumers an estimated $47 billion in 2024.
  • Specific 2024 fraud costs included an estimated $15.6 billion from account takeover fraud & $6.2 billion from new account fraud.
  • Genner noted that Generative AI fuels the growth in attack volume & sophistication.
  • Trust Stamp is a global provider of AI-powered services for sectors including banking, finance, healthcare, & government.
  • The company trades on the Nasdaq Capital Market & employs team members from twenty-two nationalities in eight countries.