In the current age of rapid technological advancement, generative AI has been revolutionary—transforming industries from entertainment to learning. While benefits of AI cannot be argued, its misuse has ushered in a dangerous new era: deepfake fraud.
As deepfake videos, voice clones, and text impersonations become more realistic and widespread, businesses across the globe are faced with unprecedently high risks. It is no longer a question of if your business will be targeted, but when.
So, how do businesses safeguard themselves in this new era of digital deception?
What Are Generative AI Scams?
To start with, generative AI scams are misleading activities driven by artificial intelligence technology that generates realistic but entirely made-up content. Some of these include:
- Deepfake videos impersonating CEOs or executives
- Synthetic voice calls posing as real employees
- AI-delivered emails or messages that replicate writing styles with uncharacteristic accuracy
And thus, cybercrooks are able to deceive employees, investors, and even customers—resulting in financial loss, reputational damage, and legal exposure.
The Rising Threat to Businesses
According to recent industry releases, AI-originated scams have increased fivefold since 2023. In one particularly infamous case, a company transferred over $25 million after one of its employees was subjected to a video call by what purported to be their CFO—only to discover subsequently that this was a deepfake.
Worse still, the scams are no longer limited to large multinational firms. Small and medium-sized enterprises, which also do not have sophisticated cybersecurity solutions, are being targeted hard as well.
Thus, it is important to know the nature of these threats. Awareness, however, is not enough.
How Companies Can Shield Themselves
Luckily, while the threat itself is changing, so are the tools and techniques that can be used to fight it. Some things that all companies should do are listed below:
1. Educate Your Employees
Foremost among all things, is awareness. Regular training sessions on the risks of AI scams and how to identify questionable content can greatly reduce your company’s risk. Make your staff do:
- Filter for identities before reacting to risky messages
- Watch out for coercive financial requests
- Alert for suspicious activity
Moving towards a culture of vigilance helps fortify your first line of defense—your staff.
2. Use Voice and Video Verification Procedures
While traditional methods of authentication like passwords or email authentication can be circumvented, facial and voice biometrics offer an extra level of protection. Use multi-factor authentication for important video calls or voice approvals.
With deepfakes getting better, your authentication approach has to improve too.
3. Leverage Real-Time AI to Defeat AI
Interestingly enough, the best way to fight against generative AI is to use it. Invest in detection technologies leveraging AI that read micro-expressions, voice intonations, and metadata to detect deepfakes in real-time.
Some popular technologies are:
- Deepware Scanner
- Sensity AI
- Microsoft Video Authenticator
Jumping into counter-AI technology puts your company ahead of hackers.
4. Secure Your Digital Assets
Make sure that executive videos, audio, and photos are watermarked or off-limits to prevent abuse. Publicly available content will typically be scraped by hackers to train deepfake models.
Firms should also encrypt internal messages and refrain from sending sensitive documents through unsecured networks.
In a data harvesting age, keeping exposure minimal is the main concern.
5. Establish an Incident Response Plan
No system is foolproof. Have a clear and prompt response process for suspected AI-aided scams. This includes:
- Instant notification protocols
- Legal advice
- PR crisis management
A swift, coordinated response can limit damage and preserve trust.
Final Thoughts: Stay Smart, Stay Secure
As generative AI continues to evolve, so do the threats against it. But with planning ahead and careful planning, the right tools, and a smart-informed team, companies can stay resilient.
Deepfake fraud may be the newest addition to the cybercrime playbook—but it doesn’t have to be the most devastating.
With foresight, companies are able to turn weakness into vigilance, and risk into opportunity.
