Ways Deep Fake Deception is a Threat to Businesses

Ways Deep Fake Deception is a Threat to Businesses

Deepfake attacks leverage deep learning technology to pose a significant threat to individuals and businesses. Attackers gain access to sensitive information to spread misinformation tarnishing the businesses’ reputation. 

Deepfake technology is capable of creating realistic-looking content displaying an unprecedented development in the ecosystem of disinformation inducing the viewers to trust it and hastening the spread of disinformation. Here are a few ways deep fake deception is a threat to businesses.

Defames Businesses

Deepfakes utilize AI to spread fake information against the target. Videos of individuals can be used against businesses to tarnish their reputation catastrophically. Companies need to mandate KYC and KYB authentications to verify customers and businesses. These deep fake videos can be used to threaten and trick the systems causing unauthenticated entries into the system. Such potential threat actors are a threat to businesses since they are highly likely to target the companies to initiate and process illegal activities like money laundering, cyber-criminal activities, and extremist financing. This will affect the business’ reputation drastically.

Also Read: Top Four Reasons to Adopt CIEM in Cloud Security Strategy

Stock Market Exploitation

Deepfakes can jeopardize the potentiality of the stock market by initiating scams and direct impersonations. Impersonations could involve a precise and targeted publication of the business leaders that target potentially cold businesses or social issues that causes the company’s stock market to plummet. This threat tarnishes businesses and business leaders, negatively impacting the products and services the business provides. Businesses need adequate time and effective strategies to confidently prove a video or a photo is a Deepfake making such setbacks avoid crashing the company.

Extortion against Noteworthy Business Leaders

In addition to tarnishing businesses and manipulating stock markets, deepfakes establish an increase in extortion attempts against noteworthy and influential business leaders. Fake videos and audio of business leaders leverage damaging rumors and fabrication of fake scenarios. The legitimacy of the defamatory video and audio will be irrelevant during Deepfake extortion. However, these fake audio and videos can be used to demand money as a ransom posing the identical threat of significant damage to the individual’s reputation.

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Social Engineering

With phishing, scam, and malware regularly targeting businesses’ IT infrastructure, social engineering and fraud are not a fad to companies. Organizations have deployed robust cybersecurity and training and educating employees to deal with these threats.

Deepfakes create an unprecedented method of impersonating individuals that will encourage them to target traditionally via secure contexts, such as phone calls and video conferences.

Deepfakes are capable of creating realistic audios of influential individuals to initiate transfers of certain assets or perhaps a synthetic impression of a potential client over video conferencing platforms requesting confidential deeds.

As per a recent report by VMware, “Global Incident Response Threat Report,” two of the three responders witnessed malicious deepfakes as a part of an attack peaking, with a 13% increase from the last year. Therefore, businesses need to station precautionary measures by training the team, monitoring the business activities online, incorporating the current technologies, and ensuring transparency. Adequate training for the employee to detect fake and true images and videos is required.

Additionally, the latest technologies with a high-powered system should be utilized to fight back against these scams. Furthermore, checking business-related videos online to filter out if there are any fake images or clips are present related to the company or its representatives. These methods of mitigation ensure transparency and highlight any hindrances to the team that will save businesses from the inevitable impacts of deepfakes.

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Apoorva Kasam is a Global News Correspondent with OnDot Media. She has done her master’s in Bioinformatics and has 12+ months of experience in clinical and preclinical data management. She is a content-writing enthusiast, and this is her first stint writing articles on business technology. She has covered a wide array of crucial cybersecurity insights like data privacy, cloud security, identity, and access management, endpoint security, security compliance, security analytics, and security automation. Her ideal and digestible writing style displays the current cybersecurity challenges with relevant mitigation strategies and countermeasures. Furthermore, she has delved into vulnerability management, supply chain security, zero trust security, security architecture, mobile device security, and security compliance. She has a keen interest in the latest cybersecurity trends like security automation, penetration testing, and IoT security. She looks for minute details, while her excellent language skills help her deliver a crisp-looking, niche-specific message through her articles. She is looking forward to exploring her writing styles and portraying her thoughts that can help encourage cybersecurity experts to station robust threat mitigation strategies. Apart from writing, she enjoys spending time with her pet and reading oncology publications.