Deepfake scams have become a significant threat, with criminals using generative AI to manipulate videos, sounds, and images of real individuals, leading to substantial financial losses. Experts warn that the situation could worsen as AI technology continues to evolve.
What Happened: The rise of deepfake scams has caused companies worldwide to lose millions of dollars. According to CNBC, cybersecurity professionals are warning that criminals are increasingly using generative AI to engage in fraudulent activities, potentially exacerbating the situation.
In a notable case earlier this year, a Hong Kong finance professional was deceived into transferring over $25 million to fraudsters who used deepfake technology to impersonate his colleagues during a video call. This incident, which involved UK engineering firm Arup, is just one example of the escalating threat posed by deepfake scams.
David Fairman, the Chief Information and Security Officer at cybersecurity company Netskope, attributes the surge in these threats ...