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How businesses can prevent deepfake frauds

April 15, 2024

6 minutes read

Let’s first understand what are deepfakes and how they are posing a threat to businesses.

What are Deepfakes?

Audio/visual content made using AI-driven technology. This technology is popularly termed as “deep learning”  or “deep neural networks”.

The algorithms behind this technology act just like a human brain and help create video, audio, image or text depicting a fake identity or a fake incident.

In a few instances, deepfake producers trim portions of real audio or video using fake imagery and voice tunes to create something completely off the topic.

Basically, ripping off its originality.

It is quite difficult to differentiate between the original and fake content in this hi-tech era.

Some of the deepfakes are convincing enough to fool the audience and hence deepfakes have now become a great tool for executing crimes.

Fraudsters are exploiting deepfakes to a great extent for cyber frauds – making it one of the most dangerous AI crimes of the future.

Now let’s look at a few examples to decipher what deepfakes look like.

Different examples of deepfake

A popular example of deepfake that went viral is a video of American comedian Jordan Peele pasting his mouth and jawline over that of former president Barack Obama and then emulating Obama’s speech and gestures – to create a convincing deepfake “public service announcement.”

Another concerning instance was when fraudsters took a real video of Speaker of the House Nancy Pelosi, slowed it down by 25%, and then changed the tone of her voice to make it appear as though she was mumbling her speech.

After the Pelosi deepfake went crazy on social media, Facebook declined to remove it.

In retaliation, a deepfake of Mark Zuckerberg, the founder of Facebook, was shared on Instagram wherein he was bragging about owning members on his network.

What’s so concerning about this synthetic identity theft is its seeming genuineness.

These highly skilled fakes allow attackers to go unnoticed, frequently until it’s too late, by capitalizing on the innate human desire to trust those we know.

Industries at most risk with deepfake 

Deepfakes are probably going to be a major problem for the journalism industry in terms of customer confidence.

Yes, because deepfakes are more difficult to detect and consumers are more likely to accept them as genuine than “traditional” fake news, they present a bigger risk.

Technology makes it possible to produce what appear to be authentic news footage, endangering the credibility of media outlets and journalists.

Additionally, a news media outlet may have a competitive edge if it is the first to obtain access to video footage captured by an eyewitness to an occurrence; however, this advantage might be compromised if the tape is phoney.

While deepfakes have mostly been seen as a curiosity on social networking sites, deepfakes and other AI-generated images and videos can be a danger to businesses like insurance that base crucial financial judgments on the information in their images and videos.

At a time when many carriers have quickly embraced self-service as a tool to process claims amid the COVID epidemic, the potential to modify reality in ways that are tough or next to impossible to detect considerably raises the danger of digital media fraud in insurance claims.

Major business concerns with deepfake 

Deepfakes may be quite dangerous for businesses and organizations since they are often designed to trick viewers into thinking or acting on incorrect information.

It becomes very difficult for the viewers to distinguish between what is authentic and what has been “faked.”

Deepfake phishing is another emerging threat to businesses.

Cybercriminals frequently seek to get access to a company’s personnel using phishing emails that appear legitimate.

It becomes far more dangerous when deepfakes content easily tricks employees into thinking they are conversing with a CEO or leader of the organisation or pressurises them to make unauthorized payments or disclosing private or confidential information.

Usually, deepfake phishing begins with an audio deepfake of a reliable insider.

The fraudster, impersonating himself as the figurehead, will initiate contact using web conferencing or voicemail.

Afterwards, they will use other social engineering techniques, including business email compromise or dynamic voice manipulation, to coerce staff members into providing money or data.

Deepfake photos or videos might even be used to blackmail employees, demanding money, confidential knowledge, or passwords in exchange. Because isolated personnel are more vulnerable, guarding against this has become more challenging with the advent of remote working.

In the modern world where audio and video messaging are becoming prevalent, businesses and employees need to be more conscious of how cybercriminals are targeting various sectors with deepfake technology and artificial intelligence.

What businesses can do to stop fraud with deepfakes?

The ability to distinguish between authentic and artificially created content is becoming increasingly crucial, making it imperative for businesses to exercise discernment and be proactive in countering these sophisticated deceptions.

Few of the measures that businesses can take to stop fraud with deepfakes:

Promoting knowledge and awareness

The first line of defence is knowledge.

Make sure everyone on your team is aware of deepfakes, their potential risks, and how to spot them.

How?

By conducting frequent seminars and training sessions.

These sessions provide the workforce with the skills so that they can identify the difference between authentic and altered information.

Implementing digital verification tools

Tools and technologies are being developed continuously to identify deepfake material.

You may stop false information before it spreads out.

How?

By implementing digital verification tools into your company’s process, particularly in areas like communications and public relations.

We at Signzy offer different digital verification tools for complete safety of your business.

Do check them out now!

Strengthening the communication media

For crucial corporate interactions, particularly those involving money or private internal affairs, businesses need to think about utilizing encrypted communication routes and platforms with multi-factor authentication.

Why?

As they lessen the possibility of identity theft or fraud due to deepfakes.

Backup and Archive Media Content

Maintaining backups of original material is crucial for companies like media houses and marketing firms.

Why?

Because they rely significantly on audio or video assets and hence having an original file in tracing the clear source of truth if the material is contested or corrupted.

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