![]() ![]() When it comes to financial services, these businesses need to ensure they have stro ng and secure authentication process in place for customers to avoid becoming a victim. With these attacks c ontinuing to g row in frequency, it’s more important than ever for businesses to take precau tionary measures. How to protect your business from deepfake fraudĭue to new levels of sophistication, deepfakes are able to bypass traditional anti-fraud measures as they fail to distinguish between what is real and what isn’t. According to McKin sey, this type of fraud is already the fastest grow ing type of financial crime in the U. Fraudsters are also turning to sy nthetic identities, using deepfaked images and videos, to open fake accounts with financial institutions. For example, synthetic voice impersonation has been used to defraud companies and business leaders, tricking them into giving away sensitive information or transferring money. While deepfakes are still largely restricted to jokes and pranks, fraudsters have be gun to wise up and exploit the technology for malicious purposes. Experts say that watching deepfake videos on a small screen like a smartphone or a tablet are more likely to look realistic rather than if you watched them on your TV or a bigger screen. For example, the creator of Tom Cruise’s videos had to spend over two months training an AI programme by feeding it with a huge number of images of the actor in order to create a realistically looking replica.ĭeepfakes are currently most widespread on social media where users usually quickly glance through an image or a video and often don’t think twice if the visuals they’ve been exposed to are real. ![]() It’s wor th noting that sophisticated deepfaked videos are very difficult to create. This technology quickly grew in popularity, and now there are a number of applications which allow users to substitute their face for that of a celebrity just by using a single photo. They are made to look and sound authentic by u sing deep learning technology and AI algorithms.ĭeepfakes first came into prominence in 2018 when a developer adapted AI techniques to create software that can swap one person’s face for another. ![]() What are deepfakes?ĭeepfakes are sophisticated forgery of an image, video or audio recording that could often be difficult to detect. In this blog, we look at the rise of deepfakes and how businesses and consumers alike can protect themselves. Wh at’s more, the creator of the videos said in an interview recently that he created them in order to ‘ raise awareness to the continued evolution of the technology that can create incredibly realistic fake videos of people’. So, the idea of these entertainment videos delivered by a deepfaked Tom Cruise had an additional benefit alongside the levity – of rais ing awareness around trust and misinformation. In a famous case, one business leader fell victim to a deepfake scam where fraudsters impersonated a trusted business partner, manipulat ing the CEO into transferring $243,000 to the scammers’ account. ![]() While this gimmick may be amusing at first viewing, the use of deepfakes as means to defraud unsuspecting victims has become an alarming trend that has increased since their emergence in late 2017. In one of the clips, Cruise is show n performing a magic trick with a coin, ending with him saying “It’s all the real thing”, and on others he could be seen golfing or tripping over a carpet. Earlier this month, popular Hollywood actor Tom Cruise was trending on social media not because of a new film that he’s working on, but thanks t o TikTok videos that went viral, generating many reactions from users around the ir authenticity. ![]()
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