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10/14/2024
Have you fallen for a deepfake yet?
Private Bank Barclays
It’s getting harder and harder to tell what’s real and what's fake in today’s digital world and the rapid advancement of technology. An alarming trend is the increase in "deepfakes”.
These AI-generated audio and video clips are now so realistic they have the potential to fool anyone. They're being used to spread fake news, impersonate others, and even carry out financial fraud.
The better news is that they are not infallible and there are steps that you can take to keep your guard up, as this article will now explain.
Recent deepfake incidents
The misuse of deepfake technology has spanned everything from political deception to elaborate financial crimes.
Earlier this year, a Hong Kong employee was deceived into believing they were on a video call with their boss, leading to a transfer of HK$200 million (£20 million) to criminals1. Another case in December 2023 saw scammers in Australia using deepfake videos of government officials to promote a fake investment scheme2.
New threats are also surfacing, including malware that steals personal data like biometric facial profiles, which can then be used to create tailored deepfakes for identity theft and fraud3. It’s a grim reality we now face.
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