Artificial Intelligence technology is evolving rapidly, and scammers are finding new and creative ways to use it to their advantage. One concerning trend that has been affecting businesses this year is the rise of “deepfake” threats, an elaborate scam that mimics voices.
What is a “Deepfake” Threat?
Deepfake threats refer to AI-generated videos created to deceive the viewer. These videos often feature highly realistic representations of people saying or doing things they never actually did. All it takes is software capable of analyzing a short voice sample to create a statement that sounds incredibly similar to the original owner’s voice.
Voice recreation is just the tip of the iceberg. It’s astounding how easily accessible this advanced technology is, and the combination of voice and video manipulation is both impressive and disturbing.
Why are Deepfakes dangerous for my NEO business?
The primary intent behind deepfakes is deception, posing nearly endless potential dangers to businesses regardless of their industry or size.
Imagine receiving a phone call that seems to be from your company’s CFO, urgently requesting that you transfer money. In the heat of the moment, such a request may seem perfectly legitimate, and you might feel relieved at being able to assist.
Unfortunately, this is all it could take for someone to gain a substantial amount of money or sensitive data from your business. Just one phone call. Scammers have become adept at manipulating people in emotional situations, and businesses have already fallen victim to this method.
Not a What-if: Deepfake Threats are Happening Today
According to an article posted on secureworld.io, a finance worker at a Hong Kong branch of a large multination corporation recently fell victim to an elaborate deepfake scam. The deepfake video impersonated senior executives and fraudsters swindled over $25 million.
This alarming new threat, paired with Business Email Compromises, which cost US businesses approximately $1.3 billion last year alone, cannot be taken lightly.
What Can I Do to Keep my Business Safe From Deepfake Threats?
With complex threats like these, there is software available that can mitigate risk by detecting unusual generative AI behavior. However, this cannot be the only line of defense. Proper end-user training and security awareness are crucial.
For example, if there’s a detailed security plan for specific business processes (such as wiring money), it becomes easier for employees to recognize deviations from those processes.
Additionally, cyber security training that helps employees identify these types of behaviors and know how to counteract them is essential.
Unfortunately, one of the biggest threats to any business is an uneducated employee. All it takes is one wrong click.
Practical Steps to Protect Your NEO Business From Deepfake Threats
Implement Multi-Factor Authentication (MFA):
MFA adds an extra layer of security by requiring multiple forms of verification before granting access to sensitive information or accounts.
Conduct Regular Security Training:
Ensure that all employees are trained to recognize and respond to phishing attempts, deepfake scams, and other security threats.
Establish Clear Protocols:
Having clear and well-communicated protocols for financial transactions and data access can help employees know what actions are legitimate and which ones are suspicious.
Use AI Detection Tools:
Invest in AI and cyber security tools designed to detect deepfakes and other forms of digital manipulation. These tools can act as an additional layer of defense.
Encourage a Culture of Skepticism:
Promote a culture where employees feel comfortable questioning unusual requests, even if they appear to come from high-ranking officials within the company.
Regularly Update Security Policies:
Keep your security policies and procedures up-to-date to reflect the latest threats and best practices.
Conclusion
The rise of deepfake technology has introduced a level of threat to Northeast Ohio businesses. The use of mimicked voices in phone scams can result in significant financial loss and the compromise of sensitive data.
While software solutions can help mitigate risk, the best defense is an educated workforce. By implementing robust security policies and conducting regular employee training, businesses can lower the chances of falling victim to these scams. Remember, it’s better to be proactive than to regret not acting sooner.
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