Deepfake technology is increasingly being used to deceive companies during the hiring process.
This involves creating fake videos, audio recordings and images that are so realistic they’re hard to distinguish from the real thing. As a result, fraud and scams are becoming more common. These fake personas can be used to gain access to sensitive information or to carry out unauthorized transactions.
Why People Use Deepfake Technology
People with malicious intentions are using Deepfake technology for several reasons, all of which can cause significant harm. These include financial gain and data theft, where they impersonate trusted individuals to trick people into transferring money or revealing sensitive information. They also use it to blackmail or damage someone’s reputation by creating manipulated content. In addition, they can impersonate executives to carry out unauthorized transactions, which can result in significant financial losses and damage to a company’s reputation.A notable example is a recent incident in Hong Kong where a company lost millions of dollars due to a Deepfake scam. Furthermore, Deepfake technology can be used to spread false information, particularly during elections, to create instability or manipulate public opinion.
How Deepfake Technology Works and Its Accessibility
Deepfake technology relies on AI-powered GANs (Generative Adversarial Networks) to create realistic fake media. It learns from real audio and video data to produce convincing forgeries.
This technology is now easily accessible and affordable, allowing anyone to create Deepfakes without requiring extensive technical knowledge. There are even websites that offer Deepfake creation services, making it even easier for attackers to create sophisticated scams. In the context of job recruitment, Deepfake candidates can use fake identities, fabricated resumes, and manipulated real-time video interviews to gain access to organizations. This is particularly concerning for remote roles, such as those in IT, finance, healthcare, and cybersecurity. Gartner predicts that by 2028, one in four job applicants globally will be Deepfakes, highlighting the scale and urgency of this issue.
The Risks and Impact on Companies
Companies that fall victim to Deepfake scams can suffer significant financial losses, with the average loss per incident being around $450,000. Deepfakes can also lead to data breaches, intellectual property theft, and compromised cybersecurity infrastructure. Furthermore, employees hired through Deepfake scams can carry out complex social engineering attacks, such as espionage, data theft, or installing malware within a company’s network.
Preventing and Mitigating Deepfake Risks
To combat Deepfake threats, companies can take several steps. These include using AI-powered detection tools in conjunction with expert human oversight to identify subtle anomalies that AI might miss. Regular training can also help employees recognize signs of Deepfake content, such as unusual visual, audio, or behavioral patterns. Implementing robust identity verification systems, such as multi-factor authentication (MFA), biometric scanning, and blockchain-based verification, can also help. Additionally, investing in threat intelligence systems can enable companies to respond quickly and effectively to emerging threats.
Effectively addressing the Deepfake problem will require cooperation between technology companies, government agencies, and industry stakeholders. New laws and regulations are needed to promote transparency, accountability, and comprehensive protection against the misuse of AI. Currently, existing laws have gaps and are incomplete, so pushing for standardized and comprehensive legislation is crucial to mitigating the risks associated with Deepfake technology.