Throughout 2022 - 2023, the number of deepfake videos on the internet increased by 900%. This may include videos commonly found on social media such as former president Soeharto's video during the 2024 election, actor Raffi Ahmad promoting online gambling, or actress Melaney Ricardo promoting body slimming products.
As a social media consumer, you may perceive these videos solely for entertainment. However, what if the same deepfake creation techniques were used to replace your face during verification in an application? For example, someone using your face to register for an illegal online loan application?
In a survey conducted by VIDA among business professionals in Indonesia, awareness of AI remains low, especially regarding deepfake. Here are the facts found in VIDA's study.
Almost half of them don't know what deepfake is. When deepfake videos circulate freely on social media, it turns out not everyone knows that it is a new type of threat to data security. However, deepfake losses worldwide have reached billions. In VIDA's study, not all professionals in the financial, health, and insurance sectors understand the risks of deepfake to their business.
On the other hand, 24% of business professionals who understand deepfake and deepfake fraud say that financial loss is the biggest risk of this threat. Meanwhile, another 21% believe deepfake is used for data theft in online loans, gambling, and unauthorized access to applications.
The fintech sector is perceived as highly vulnerable to deepfake fraud. As many as 72% of professionals in this sector believe that deepfake fraud causes financial loss and data breaches. They are also worried that such fraud could undermine customer trust and harm the company's reputation in the long run.
Not only fintech, but 70% of respondents from conventional financial industries also view their sector as highly vulnerable to deepfake threats. The resulting impacts are also related to the damage of customer trust and the company's reputation.
As many as 58% of professionals in the e-commerce sector and 52% of professionals in the telco sector also have similar concerns about deepfake crimes.
From 2022 to 2023, deepfake fraud increased by 10 times in Southeast Asia as software for deepfake became more abundant and easily accessible. Unfortunately, the increase in deepfake fraud is not accompanied by knowledge of how to protect against deepfake. VIDA's data shows that 90% of business professionals do not know how to protect their companies from deepfake.
VIDA Deepfake Shield is the latest security feature from VIDA that protects biometric verification systems. This feature can prevent identity fraud, including the use of fake photos, videos, and masks to ensure that verification is done by the right person.
Learn more about deepfake and VIDA Deepfake Shield here.