How To Protect Yourself From Deepfake Scams Targeting Your Money

Scams are becoming more sophisticated with fraudsters exploiting modern technology to deceive victims. The rise of deepfake scams, in which scammers pose as well-known people to trick victims into disclosing personal information or completing fraudulent transactions is reason for concern. Before understanding how to protect yourself, it’s important to first know what a deepfake scam is and how it operates.

What is Deepfake Scam?

In a deepfake fraud, fraudsters utilize artificial intelligence to create phony audio or video recordings that seem real and resemble someone the victim knows or trusts. The purpose of these scams is to trap people into taking actions, like transferring money or sharing sensitive information, without realizing they’re being deceived.

Usually, fraudsters start by compiling publicly accessible content from online platforms or social media such as voice recordings or videos. They then use AI tools to create convincing fake content that mimics the appearance or voice of a trusted person.

How to Protect Yourself from Deepfake Scams

The prevalence of deepfake scams is rising, therefore being aware is crucial. Ritesh Bhatia, the founder and head of V4WEB Cybersecurity, suggests that always verify before you trust. If someone asks for money or sensitive details, call them on a number you know. Remember, don’t rely solely on video calls or voice clips. You can ask personal questions a deepfake can’t replicate, like a nickname or shared memory.

Here are some key red flags to be aware as pointed out by Capt. Praveen Dahiya, Founder and Managing Director of InQuest Global:

1. Enable Multi-Factor Authentication (MFA)

Deepfakes are unable to get beyond the layer of security that multi-factor authentication adds. Be sure to enable MFA on all sensitive communication and banking systems. In this scenario, until they pass an extra verification step, they will be unable to access your accounts even if they use a deepfake video to pose as someone you trust.

2. Be Alert to Unusual Behaviour

One of the biggest warning signs is when someone, especially a friend or coworker, asks for sensitive information or urgent financial action out of the blue. This is especially concerning if the request seems unordinary or doesn't match their typical behaviour. These frauds frequently use deepfakes so if something seems strange, back off. Never rush into sending money or sharing sensitive data without verifying.

3. Verify via Alternate Channels

It's important to confirm any sensitive request you get using a different communication channel. In case, if you receive an unexpected call or message requesting immediate action, always check through a familiar contact method. You may avoid falling for a deepfake scam by calling back on a reliable number or verifying in person even if the number seems familiar.

4. Look for Deepfake Indicators

Whether you're speaking with someone via audio or video call, observe their facial expressions. Lip-syncing, facial motions, and blinking can all seem sluggish or unnatural in deepfake videos. These signs can suggest the presence of artificial manipulation. Being mindful of these inconsistencies can help you spot a deepfake in any communication.