10/26/2020

The Rise of the Deepfake: Is Synthetic ID Fraud Unstoppable?

Imperium

While exponential developments in Artificial Intelligence (AI) and Machine learning (ML) technology are creating fresh opportunities for advancement in almost every field of human endeavor, there are also dark forces at play.

A recent study by a prestigious British university rated so-called deepfakes (hyper-realistic audio and video trickery) as the ‘most worrying application of artificial intelligence’ because of its potential to further the aims of those involved in crime and terrorism. The report’s authors were concerned not only by the difficulties in detecting fake content but by the societal harm that could result from a universal distrust of media. Simply put, if everything can be faked, how do we know what’s real?

The hand-wringing over deepfake technology may feel like a million miles away from everyday life. Many of us will only ever encounter it as a kind of cinematic smoke and mirrors used to reverse the aging process on movie stars. You might even dabble with it yourself via one of the deepfake apps that allow people to insert themselves into pop videos or movie scenes.

But the underlying tech has serious implications for us all. At Imperium, we spend a lot of time anticipating the impact of increasingly sophisticated technology – like deepfakes – on ID fraud. We know that, globally, synthetic identity fraud is on the rise. According to McKinsey, it’s the fastest-growing type of financial crime in the U.S.

Read more...