The use of “deepfake” technology – an AI-based tool that creates fake photos, videos, and audio by altering existing media – will likely spur an increase in cybersecurity breaches next year, according to Experian‘s Data Breach Industry Forecast report.
Though the technology is commonly used to cause disruption in politics, the increased use of deepfake technology poses a threat to financial institutions, too. In fact, in the last year, three cases have been reported where perpetrators stole money from financial institutions by leveraging the deepfake technology to manipulate the voices of top executives, Experian noted without naming the companies involved.
“The tools to defend against deepfakes are few and far between,” according to the report. “The challenge of quickly detecting [deepfakes] before any damage is done is increasingly unlikely.”
In a similar vein to fake news, deepfake video and audio can be used to spread misinformation about organizations and c-suite executives rapidly, the report added. Financiers can detect deepfake media by looking for blurring in an individual’s face, changes in skin tone, and irregular blinking, Experian said, adding that the deepfake algorithm causes people in deepfake videos to blink rarely.
One example of a deepfake video earlier this year altered videos of House Speaker Nancy Pelosi in which she appeared to be slurring her speech. In 2018, a video labeled as a public service announcement went viral, in which former President Barack Obama appeared online with an altered audio track. Later in the video, it was revealed the track was recorded by Director Jordan Peele, who is also an Obama impersonator.
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