Deepfake Scams: How Virtual Doppelgangers Steal Millions

Modern artificial intelligence technologies have made deepfakes a powerful tool for fraud. These fabrications allow the imitation of the voice, facial expressions, and appearance of real people, creating the illusion of authenticity. Deepfake fraud is widely used in financial crimes: fraudsters use fake videos and audio recordings to deceitfully obtain money or access to confidential information.

The increasing quality of deepfakes makes them more dangerous. Identifying a fake is becoming more difficult, and traditional protection methods do not always work. This increases financial risks for companies, banks, and private users.

Deepfakes in Scams

Criminals use deepfakes in various fraudulent schemes, creating the illusion of authenticity. They can impersonate company executives, financial analysts, or public figures to manipulate people and extort money.

Popular Deepfake Fraud Techniques:

Fake financial requests – criminals create deepfake videos or audio recordings where a company executive supposedly demands money to be transferred to a specified account.

1. Investor deception – fabrication of videos with famous businessmen allegedly promoting fake investment projects.
2. Business attacks – fake video calls in corporate environments where fraudsters impersonate employees or partners.
3. Blackmail and compromising material – creation of fake videos with public figures for extortion or discreditation.

Such scams can lead to significant financial losses, so it is important to know protection methods.

Fake Videos for Deception

Deepfake fraud is actively used in cybercrime. Fake videos are used to deceive employees, clients, and partners.

How are fake videos created?

1. Data collection – fraudsters find recordings of the desired person, analyzing their voice, facial expressions, and behavior.
2. Creating a deepfake – using neural networks, a fake video is generated where lip movements and facial expressions are synchronized with the desired text.
3. Distribution – the video is published on social networks, sent via email, or shown in a video call.

Examples of Using Fake Videos:

• Video calls with the «executive» requesting an urgent money transfer.
• Fake commercials where celebrities allegedly endorse fraudulent schemes.
• Imitation of politicians or public figures to manipulate public opinion.

Recognizing a deepfake video is difficult, especially if it is generated using powerful algorithms.

Fake Deepfake Identities

Fraudsters use deepfake technologies to create non-existent people, passing them off as real users. Fake deepfake identities allow criminals to conduct scams in the financial sector, hiding their true identity.

Where are fake identities used?

• Credit applications – criminals forge documents and pass biometric verification using deepfakes.
• Registration of fake accounts – creation of dummy profiles in banks, social networks, and crypto exchanges.
• Company infiltration – criminals can participate in video calls, posing as employees.
• Identity fraud – using deepfakes to bypass biometric security systems.

Fake deepfake identities are becoming a serious problem for banks and companies, as standard verification systems are not always able to detect the forgery.

Protection from Deepfake

The development of deepfakes necessitates the implementation of new protection technologies. Financial institutions, companies, and ordinary users must consider the risks associated with deepfake fraud.

Methods for Protection from Deepfakes:

• Using algorithms to detect forgeries – artificial intelligence systems analyze anomalies in video and audio.
• Additional identity verification – two-factor authentication, user behavior analysis, offline document verification.
• Employee training – increasing digital literacy helps recognize fraudulent schemes.
• Legal regulation – development of laws limiting the use of deepfakes for criminal purposes.

Companies should implement multi-level security systems to prevent the use of deepfakes in fraud.

Conclusion

Deepfake fraud poses a serious threat to financial security. Deepfake technologies allow criminals to forge identities, distribute fake videos, and conduct scams in corporate environments. The increasing quality of forgeries makes their detection more difficult, making the fight against such crimes increasingly relevant.

Protection against deepfakes requires a comprehensive approach: using forgery detection technologies, implementing multi-factor authentication, and training employees. Only the continuous improvement of cybersecurity methods will help minimize financial risks associated with deepfake fraud.