Deepfake technology is a rapidly advancing field that has the potential to revolutionise entertainment, advertising and even politics. However, it also poses a serious threat to online security, as deepfakes can be used for malicious purposes like online fraud. In this blog, we explore how deepfake technology is making this criminal behaviour more difficult to detect and what individuals and businesses can do to protect themselves.


What is deepfake technology?

Deepfakes are videos, images or audio recordings that have been manipulated using artificial intelligence to make them appear authentic. For instance, a deepfake video might show a famous person saying or doing something they never actually did, or a deepfake audio recording might sound like someone saying something they never actually said. This technology is becoming increasingly sophisticated and difficult to detect, which is what makes it so dangerous when it comes to online fraud.



How deepfake technology is being used for online fraud

There are several ways in which deepfakes can be used to commit online fraud. Below, we walk you through two tactics that criminals are deploying to steal millions of dollars each year.

1.  Phishing scams

One common example is the use of deepfakes in phishing scams. Phishing scams are a type of online fraud in which scammers send emails or messages that appear to be from a trusted source, such as a bank or a social media site, in order to trick the recipient into providing sensitive information like passwords or credit card numbers. Deepfakes can make these scams very convincing by creating videos or audio recordings that appear to be legitimate, making it very hard for recipients to detect.

2.  Identity theft and impersonation

Another way that deepfakes can be used for online fraud is in impersonation scams. In an impersonation scam, a fraudster pretends to be someone else, such as a government official or a company representative, in order to trick the victim into providing sensitive information or making a payment. Deepfakes can make these scams seem real by creating videos or audio recordings that appear to be from the impersonated person.


Here’s what you can do to say safe

So, what can individuals and businesses do to protect themselves from deepfake fraud? One important step is to be aware of the potential risks and to be vigilant when receiving unsolicited messages or requests for sensitive information. It’s also important to verify the identity of the sender or the person being impersonated before providing any information or making any payments. This can involve checking official websites or contacting the relevant organisation directly to confirm the legitimacy of the request.

Another important thing to do is use technology to detect deepfakes. There are several tools available that use artificial intelligence to analyse videos or audio recordings and detect signs of manipulation. For example, some tools can analyse the facial movements of a person in a video to determine whether it is authentic or edited. Similarly, some tools can analyse the audio waveform of a recording to detect signs of tampering.


The best defense? Staying one step ahead

Deepfake technology is making online fraud more difficult to detect, posing a serious threat to individuals and businesses alike. However, by staying aware of the risks, verifying the identity of senders or impersonated persons, and using technology to detect deepfakes, we can protect ourselves from these fraudulent activities. It’s important that we all take these steps to ensure that our online activities are safe and secure.


Work with industry experts to safeguard your brand

Worried about deepfake technology and fraud impacting your business? Speak with our expert team at FraudWatch. We specialise in keeping brands like yours safe and sound when it comes to digital threats.

Look to us for security solutions relating to phishing, social media, email security, mobile apps, DMARC and more. We can also help with site takedowns, cyber intelligence services and dark web monitoring.

Get in touch today for further information.