Deepfakes have become more sophisticated over time, raising many valid concerns. What exactly constitutes a Deepfake?

Deepfakes refer to videos or images created with artificial intelligence (AI).

Deepfake AI mimics voices and faces to give the impression that people are speaking truthful statements they aren't actually saying.

AI can mimic human behaviour because it has seen so many real-world examples.

Recent events at a multinational company demonstrate just how effective deceptions can be.

Unusual Request

An employee in Hong Kong received an unusual request from their Chief Financial Officer (CFO), located in the UK. In it he/she demanded an urgent transfer of large funds into an offshore account citing an urgent deal.

Initial Suspicions

An employee became suspicious when the request lacked crucial details and seemed strangely out-of-character, possibly signalling phishing attacks; however, scammers likely had another plan in mind to pull off their deceitful scheme successfully.

Faked Video Call

Scammers established a video conference with employees. Using Deepfake and sources they had previously collected, scammers constructed digital copies of executives and CFOs that appeared remarkably realistic to employees.

Ruse for Sale The fake participants only managed to do enough during the short phone call to confirm a request for money transfer and increase pressure, given its alleged importance to an employee's deal. His concerns were eased when he witnessed what seemed to be an authentic interaction.

Scams: How to Stay Out of Contraction

An employee was duped into initiating a large fraudulent money movement after believing he had confirmed their request via video call, only for it to come tumbling down when double checking with head office.

This incident serves as a stark reminder that even employees with impeccable integrity can fall prey to Deepfake scams. Live video interaction used to be considered reliable for verifying identity; however, thanks to sophisticated spoofing methods employed by Deepfakes today, any communication channel can now be compromised through sophisticated spoofing methods.

Businesses can take steps to safeguard themselves against future attacks and protect themselves against costly deceits.

Implement a multi-level approval process for money transfers regardless of their apparent seniority of sender.

Examining and questioning participants could reveal clues indicative of Deepfakes.

Get in touch with one of our security specialists to learn more about Deepfakes and how it can protect your organization. We would be more than happy to assess your current policies and make customized recommendations based on a risk analysis.

Call us on 📞 (404) 932-5940 or 📩info@nuwaveitc.com