Deepfake-driven fraud is rising fast, reshaping the threat landscape for banks, governments and everyday consumers, a data analytics firm warns.
In a new press release, SAS says it teamed up with the Association of Certified Fraud Examiners (ACFE) to conduct a cross-industry survey of anti-fraud professionals.
Early insights from the survey show that 77% of anti-fraud professionals have seen an acceleration in deepfake-based social engineering attacks over the last 24 months. Meanwhile, 83% expect the trend to climb further, with more than half predicting a significant increase in deepfake social engineering schemes within the next two years.
Deepfakes are highly sophisticated online content, including videos, audio recordings and images, produced by scammers using generative AI for malicious purposes or to spread fake information.
John Gill, President of the ACFE, says the speed and reach of AI have fundamentally changed criminal behavior.
“Artificial intelligence has become one of the most powerful tools in business and one of its most potent threats. Awareness is our best defense as new risks continue to evolve. Educating professionals, equipping government and industry and empowering the public to recognize the AI-guided threats proliferating unseen is vital to maintaining trust and building confidence for what lies ahead.”
Stu Bradley, senior vice president of Risk, Fraud and Compliance Solutions at SAS, points to a widening gap between the sophistication of AI-powered deception and the readiness of organizations to defend themselves.
“Even as AI drives seemingly limitless progress, it tests the very limits of truth itself. We must educate the public about what’s at stake and ready government and industry to face AI-charged fraud, at a time when fewer than one in 10 anti-fraud pros feel well prepared, according to our recent survey of ACFE members.”
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