Protecting Your Business from the Threat of AI-Generated Deepfakes: Essential Strategies
How to Safeguard Your Business from AI-Generated Deepfakes
Recently, criminals exploited deepfake technology to deceive employees at a multinational corporation into transferring $25.6 million. During a video call altered using deepfake technology, the staff believed they were communicating with their chief financial officer based in the UK. Following the incident, authorities arrested six individuals linked to this fraudulent scheme. This alarming misuse of artificial intelligence highlights a growing vulnerability for organizations lacking robust defenses against such scams.
Understanding Deepfakes and Their Rising Threat
Deepfakes consist of digitally manipulated media—such as images, videos, and audio—that convincingly portray a real person. These facsimiles are produced by training AI algorithms on authentic clips and generating convincing yet fictitious content. Instances of deepfake use are proliferating rapidly. The Hong Kong case is merely the latest among recent high-profile examples, alongside incidents involving fabricated explicit images of celebrities and voice impersonations of public figures.
The Increasing Use of Deepfakes by Cybercriminals
Cybercriminals have escalated their use of deepfakes, employing voice clones to bypass security measures in the banking sector. This tactic aims to impersonate legitimate users to access funds. In addition, malicious actors are employing deepfakes in spear phishing attacks. A common strategy involves using a voice clone to impersonate an individual’s family member during phone calls, soliciting funds under false pretenses.
A 2022 McAfee survey revealed that 70% of respondents doubted their ability to differentiate between real voices and their deepfake counterparts. Alarmingly, nearly half of those surveyed indicated they might comply with requests for funds from someone claiming to be a family member in distress.
Regulatory Measures Against Deepfake Misuse
In response to rising concerns around deepfake technology, the Federal Communications Commission has ruled that phone calls made with AI-generated voices are illegal without prior consent from the recipient. Additionally, the Federal Trade Commission has enacted rules to prohibit AI impersonation of governmental organizations and businesses, reflecting an increasing effort to regulate this growing threat.
Strategies to Protect Against Deepfakes
To shield employees and maintain brand integrity from the dangers of deepfakes, organizational leaders should implement the following strategies:
- Provide ongoing employee education regarding AI-enabled scams and the associated risks of new AI technologies.
- Enhance phishing protocols to recognize threats posed by deepfakes, extending beyond just emails to include video and audio communication.
- Utilize multi-factor authentication for employees, business partners, and customers, especially for sensitive transactions.
- Assess potential impacts of deepfakes on brand assets like logos and marketing personas, and develop strategies to mitigate these risks effectively.
As deepfake technology continues to improve, remaining vigilant and proactive is essential for business safety.
The rapid advancement of generative AI coincides with major election processes scheduled for 2024, raising concerns about the dissemination of deepfakes both locally and globally. While deepfakes represent a significant cybersecurity risk, companies should also approach them as complex phenomena with far-reaching implications. A proactive and measured response to deepfakes can educate stakeholders and promote responsible, balanced, and suitable countermeasures.
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As the Executive Director of the Responsible AI Institute, Var Shankar facilitates organizations in aligning their AI practices with current laws, frameworks, and best practices. He serves as a member of the OECD’s Network of Experts on AI, the World Economic Forum’s AI Governance Alliance, and the Brookings Forum for Cooperation on AI. Alongside Alexis Cook, he co-instructs Kaggle’s AI Ethics course. Var is a Harvard Law School graduate and has a background in law from Cravath, Swaine & Moore LLP, as well as experience with the Clinton Global Initiative.
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