Experts are forecasting a worrying rise in incidents of deepfake cyber-crime that has already claimed one high profile UK victim.
The engineering group Arup, which has been involved in world-famous buildings such as the Sydney Opera House, lost £19.7m ($25m) in one of the world’s biggest known deepfake scams which used a hyper-realistic video generated by AI to facilitate the cyber-crime.
The Financial Times reported fraudsters used a digitally cloned version of a senior manager to order financial transfers during a video conference involving the company’s Hong Kong office.
This could be just the start of high profile attacks with VPNRanks, which compiles real-world user feedback, predicting a substantial rise in deepfakes by the end of 2024, highlighting the urgency for robust cybersecurity measures. By 2025, it is projected that 8 out of 10 people will likely encounter a deepfake.
Read more at W Denis blog here
W Denis Insurance Brokers PLC is a partner at Delphi Alliance.
Comments