Hi All
Deepfake fraud is surging, signaling an alarming trend in corporate security.
Scammers can now create convincing voice impersonations of executives, potentially manipulating stock prices and orchestrating multi-million dollar frauds. As companies rush to bolster defenses, experts say many remain unprepared for this rapidly evolving threat.
“Bad actors have a low barrier to entry,” warns Srinivas Tummalapenta, an IBM Distinguished Engineer & CTO of IBM Security Services. With just $5 and a minute-long voice sample, scammers can now impersonate CEOs, potentially wreaking havoc on company finances and reputations.
Deepfakes are highly realistic digital forgeries created using artificial intelligence technology. These manipulated videos or audio recordings can make it appear that someone is saying or doing something they never actually said or did, posing significant challenges for distinguishing truth from fiction in digital media.
The scale of this threat is staggering. According to Identity Fraud Report 2024, there has been a 3,000% increase in deepfakes.
And the stakes are high. From elaborate spam to manipulated executive videos, the landscape of corporate fraud is evolving rapidly. “You can influence the share market,” Tummalapenta notes.
Banks are already on alert, using real-time voice analysis in call centers. But many companies still need to prepare. “The funds are unavailable,” Tummalapenta explains, with firms often failing to recognize the threat until they’ve been hit.
https://www.ibm.com/blog/deepfake-detection/
Regards
Caute_Cautim
