Protecting your business from deep fake fraud

The rise of Artificial Intelligence has had a substantial impact on the personal and professional lives of anyone with an internet-connected device. There's no denying that the speedy development and bright, unfolding future of AI has been exciting to witness, but it's also presented an assault course of issues for businesses to contend with.

The risk of fraudulent activity aided by AI-generated content presents not just a new security risk but a risk to company finances as well. This article - penned by London IT support experts Amazing Support - looks at the risk posed by deepfake technology, how it can affect your business and what prevention strategies can be taken at this time.

From a video of David Beckham speaking nine different languages to the Instagram profile @deeptomcruise, it's likely you've seen or heard something about deep fake technology since its inception. Though it's been used for a number of comedic videos on social media platforms, it can, sadly, be used for more devious purposes that can cause impact and harm to professional entities. It's important, therefore, that businesses understand what they are and how they might be used against you.

Understanding the Technology

In a nutshell, deep fakes are highly realistic video or audio recordings which have been engineered using advanced computer technology. Using a kind of AI called "deep learning", real videos or audio of a person are analysed and processed, with the AI learning how the subject speaks, moves, and looks. Once learned, the AI can generate content of the person saying or doing things they've never actually said or done - like a high-tech form of impersonation.

It's that final word that should be ringing alarm bells in your head - impersonation. Deep fakes can be ( and, in fact already have been) used to commit fraudulent activities.

The Extent of the Problem

The banking sector has already begun to acknowledge "synthetic fraud" as a real threat, with many organisations having already encountered such scams. These fraudulent activities are not limited to financial sectors but span across various industries, demonstrating the widespread vulnerability to deepfake technology. In recent news, for instance, Elon Musk, two BBC presenters, and YouTube sensation Mr Beast have all fallen victim to having their identities faked in scam videos.

Detection Difficulties and Current Issues
Detecting deepfakes is becoming increasingly challenging. While there are current signs visible to the naked eye, such as irregular facial features or unusual blinking patterns, the technology is evolving to make these 'tells' less obvious - and of course, as deep fakes increase in quality, so too does the difficulty in detecting them.

At present, deep faked media can impact businesses in a number of different ways:

Impersonation of Executives

Voice and video deep fakes can be used to mimic company executives. This can lead to fraudulent activities like tricking employees into transferring funds, sharing confidential information, or making unauthorised decisions. Companies have seen this sort of behaviour before, in the form of phishing emails, but with the incorporation of voice and video, this sort of activity has been given a fresh angle of approach that can be difficult to overcome.

Stock Market Manipulation

Creating fake videos or audio clips of CEOs or key business figures making false statements can manipulate stock prices. This misinformation can lead to a temporary stock surge or slump, causing financial damage to the company and its investors.

Public Reputation and Internal Disruptions

Deep fakes can portray executives or company representatives in compromising or controversial situations. Such content, even if proven false later, can cause lasting damage to a company's reputation and stakeholder trust.

Deep fakes may also be used to spread misinformation within a company, leading to internal confusion, mistrust among employees, and disruption of normal business operations.

Targeting Customers

Scammers can use deepfakes to pose as company representatives and deceive customers, potentially leading to financial fraud or the theft of personal information. This form of fraudulent behaviour is perhaps one of the least desirable, directly impacting your customers, as well as their trust and confidence in your business.

Protecting Your Business

Thankfully, there are a number of ways in which you can protect your business against fraud through deep fakes.

Enhanced Identity Verification

To protect against deep fake fraud, it's important to implement robust identity verification systems. This involves embracing multi-factor authentication (MFA) that makes use of AI-driven document analysis, capable of detecting subtle anomalies in identification documents beyond human capacity. Additionally, liveness verification methods should be incorporated, utilising advanced biometrics like facial recognition combined with motion analysis and infrared scans. These measures ensure that the person being verified is physically present and not a digitally created deepfake or a pre-recorded video. Moreover, continuous authentication during sessions is crucial, maintaining a persistent check to ensure that the user's identity remains consistent and verified throughout their access period.

Adopting a Multi-Pronged Security Strategy

A dynamic and diverse approach to cybersecurity is essential in today's digital threat landscape. This involves conducting regular security audits to identify and address potential vulnerabilities within the IT infrastructure. Cybersecurity policies must be adaptable, enabling quick responses to emerging threats. Collaboration with external cybersecurity experts and firms can provide specialised insights and advanced capabilities for threat detection and mitigation. This multifaceted strategy ensures that the organisation stays ahead of potential security breaches.

Employee Education

Regularly educating employees about deepfake technology and its associated risks is vital. This can be achieved through consistent training programs and workshops focusing on the latest developments in deepfake technology. Simulation exercises, mimicking phishing and deepfake attacks, should be conducted to prepare employees for real-world scenarios. It's also important to establish robust internal communication channels for reporting suspicious activities. Encouraging a proactive culture where employees are vigilant and quick to report anomalies can significantly enhance an organisation's ability to detect and respond to deep fake threats.

Staying Informed about Advances in Fraud Tactics

Staying informed about the latest developments in AI-based fraud is vital. This can be achieved through active participation in industry forums and collaborations, which provide insights into the latest fraud tactics and defence strategies. Regular updates and training sessions for all levels of the organisation are necessary to keep everyone informed about the evolving trends in deepfake technology. Investing in research and development can also aid in creating proprietary tools or methods specifically designed to detect and counter deepfake fraud, ensuring a tailored defence mechanism that caters to the unique needs of the organisation.

Conclusion

The threat of AI-generated deepfakes is a growing concern for small to medium-sized businesses. By understanding the technology, recognizing the legal implications, and adopting comprehensive strategies like DRPS, CIO-led initiatives, and enhanced cybersecurity measures, companies can better protect themselves. Staying informed and proactive is crucial in navigating the challenges posed by deepfakes in the digital world.