AI and Deepfake scams are becoming more common due to the advent of artificial intelligence. Basically, when talking about Deepfake, it refers to the use of fake content, which has been developed with the intention of deceiving, scamming, and defrauding people.

Normally, these types of scams are carried out with the use of artificial intelligence. However, there are already many victims that have been recorded, and therefore it is crucial to understand how these events occur.

How a DeepFake occurs?

It’s very important to know the methods scammers use to obtain AI-generated content and impersonate others for their own benefit. Next, we will tell you about some of the most common ways they implement Deepfake.

They steal identities

Through videos or even AI voice simulation, they physically imitate a specific person who is related to the victim. On other occasions, they ask the AI to mimic well-known or important individuals, such as the owner of a company or similar.

Financial deceptions

In the financial sector, deepfakes can be used to carry out sophisticated scams. A notable example is voice cloning to make phone calls requesting money transfers. Scammers create a convincing replica of the voice of an executive or a trusted employee and ask recipients to urgently perform financial transactions.

They manipulate information to cause harm

Attackers can create and distribute false information, including videos and audios, too:

These attacks can be particularly effective during times of crisis or elections, where false information can influence important decisions.

Modus operandi

The process of an AI and deepfake scam typically follows a specific sequence. Attackers first gather detailed information about the target person or entity. This may include personal data, financial information, and specific details that help create convincing fake content. Once they have enough data, they use AI tools to generate fake videos, audios, or images. Subsequently, they implement their plan, which may include:

Requesting fund transfers

Scammers pose as an executive, high-ranking employee, or distressed family member to urgently request money. They use deepfakes to make the request as convincing as possible, taking advantage of the trust and urgency of the situation.

Spreading fake news

Attackers create and distribute fake news to influence public opinion or cause panic. These deepfakes can appear extremely real and, if not detected in time, can have severe consequences.

Stealing personal information

Attackers use deepfakes to gain access to sensitive and private data from individuals. This stolen data can later be used to commit financial fraud, make unauthorized purchases, or even steal the victim’s identity.

How to prevent and identify AI and deepfake scams?

This requires a combination of skepticism, verification, and security measures. Recommended practices are as follows:

Remember that education and vigilance are our best tools in this ongoing fight against digital fraud.

Download the Bitso app on Google Play or the App Store and discover all the opportunities it offers to maximize your personal finances! However, we recommend that you first read our frequently asked questions section related to the topic.

Frequently asked questions about AI and Deepfake scams

What is the impact of deepfakes in the digital age?

Deepfakes threaten trust in digital information, facilitating scams and manipulations, and posing serious risks to personal and public safety.

How many cases of deepfakes exist on social media?

The exact number of deepfake cases on social media is hard to determine, but it has increased significantly in recent years, with thousands of incidents reported.

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