Deepfake scams have become a pervasive threat in the digital age, using AI to create convincing yet entirely fabricated videos and audio recordings, potentially damaging reputations, spreading false information, and manipulating financial markets. The advancement of deepfake technology blurs the line between truth and fiction, making it challenging for individuals to distinguish between real and fake content. As technology advances, hackers have greater flexibility in using fraudulent techniques like deepfakes, putting employees at an increased risk of being deceived
To prevent such scams, it is crucial for individuals and organizations to raise awareness, educate about deepfakes, implement robust strategies, and establish internal controls to mitigate risks properly. By understanding how deepfakes function and implementing preventative measures such as educating individuals, verifying approval processes for money transfers, implementing multi-level authorization for fund transfers, and reinforcing internal controls and policies, individuals and organizations can better protect themselves from the damaging effects of deepfake scams. https://www.isaca.org/resources/news-and-trends/industry-news/2024/from-hollywood-to-hacking-understanding-deepfake-scams