In recent years, AI-based technologies have been rapidly developing and becoming more accessible. One of the most discussed phenomena is the 'deepfake' - a technology that allows the creation of fake videos and audio recordings that are difficult to distinguish from the originals. Although deepfakes have numerous applications, from entertainment to education, their use for fraudulent purposes is of greatest concern
A deepfake is a type of content that allows replacing one person's face with another's in video or audio. With these technologies, it is possible to create realistic videos that can easily deceive even an experienced viewer.
Fraudsters use deepfakes to create fake videos that can be used for manipulation, deception, and other criminal activities.
Deepfake Fraud: How Does It Happen?
One of the most common fraud schemes using deepfakes is creating fake videos to deceive with well-known personalities or businessmen. Such videos may contain fake statements that manipulate public opinion or instill false information in the minds of investors. These videos can be spread on social media, video-sharing platforms, or even news sites, making them particularly dangerous.
Fake calls with deepfakes. Thanks to deep learning algorithms, fraudsters can easily mimic the voice of a familiar person, whom they assume will be trustworthy to the victim.
As a result, this scheme works as follows: the fraudster calls the victim, pretending to be their friend or colleague, and reports an urgent situation requiring funds or the transfer of confidential information. This could be a request for money to pay bills or threats related to legal cases.
How Fraudsters Use Deepfake
Financial scams with deepfakes. With the growing popularity of financial technologies, fraudsters have found new ways to carry out their crimes using deepfakes. For example, they can create a fake video conference with a well-known investor to convince potential victims to invest their funds in non-existent projects.
Such deception schemes can affect not only individual investors but also entire companies. Fraudsters can forge documents, show fake deals, or use other methods to influence company principles to obtain large financial inflows.
Fraud through Artificial Intelligence
With the development of artificial intelligence, fraudsters can combine deepfakes with other technologies, making their schemes even more deceptive. For example, combining deepfakes with fake social networks allows fraudsters to create entire identities. This may include creating fake social media accounts where fraudsters post content aimed at asserting authenticity.
Deepfake Identity Theft
Deepfake also opens new ways for identity theft. Fraudsters can create a fake video from regular content and use it to impersonate another person. This may include attempts to fraudulently access bank accounts, organizations, and personal data.
The specifics of deep learning technologies allow creating videos not only with face changes but also with voice manipulation, making fraudsters even more dangerous. This complicates user identity and articulation.
Deepfake in Banking Fraud
The possibilities of using deepfakes in banking fraud have long been a reality. Banks and financial institutions have become primary targets for fraudsters, as any access to money or client accounts is their goal. Using deep fakes, fraudsters can generate fake videos imitating real bank employees and provide false instructions to clients on transferring funds.
The complex bank-client system can become vulnerable when real bank employees rely on their discipline of communication with clients through video, phone, or other means. Fraudsters use creating fake videos as a trick to access financial information and increase the chances of successful fraud due to increased realism.
The problem is that banks and financial institutions often rely on video calls and real-time communication to verify client identities.
Fake Negotiations with AI
The necessity of fake meetings and negotiations with clients using deepfakes has also become part of fraud schemes. Fraudsters can simulate the participation of various individuals in virtual meetings to conclude fake deals or sign fake contracts. Creating fake meetings using deep learning technologies allows access to significant assets through direct manipulation.
These fake negotiations sometimes succeed so well that companies enter into contracts based on information from a fake participant. Thus, the damage to business can be extensive.
How to Protect Against Deepfakes
To protect themselves from fraudsters, users should:
- Take precautions. Be vigilant about the content you view and always verify information sources. If you see a video or hear statements that seem dubious, check them on other channels.
- Use security technologies. There are technologies aimed at detecting deepfakes. Investing in such technologies can help protect yourself and your company from threats.
- Conduct training on cybersecurity issues and share knowledge on how to recognize fake materials.
Conclusion
The future of deepfake technologies is inextricably linked to their potential misuse. Fraudsters increasingly turn to this technology to commit financial crimes and deception, posing a serious threat to individuals and organizations. However, through awareness, education, and the implementation of new security technologies, it is possible to significantly reduce the risk associated with deepfake fraud. It is important for each of us to remain vigilant and protect ourselves from potential threats in the digital world.