Skip to content
deepfake

Apr 17, 2024

From Bank Accounts to Dating, How Deepfake Cause Losses

Because deepfake content closely resembles the original, it becomes a threat in our daily lives, ranging from bank account to online dating.

Deepfakes, originally used in the film industry, can turn out to be detrimental to other aspects. Deepfake is a fake photo, video, and audio reproduced from its original source using artificial intelligence (AI). Because deepfake content closely resembles the original, it becomes a threat in our daily lives, ranging from finances to online dating. Here are the losses of deepfake that may occur in your life.

1. Financial Industry (Fintech)
Imagine if your account were hacked because someone created a false identity in your name? It can happen because of deepfake. In the financial industry where privacy and data security are crucial, the emergence of deepfake raises concerns about identity theft, transaction fraud, and other financial manipulation. Deepfake allows fraudsters to use fake photos, videos, or recordings to request fund transfers, illegally access accounts, or commit identity fraud.
2. E-commerce

The world of e-commerce heavily relies on visual content in sales and transactions with consumers. Sumsub reports that any industry related to consumers is highly vulnerable to content-based synthetic or deepfake fraud. Thus, e-commerce becomes a vulnerable target for deepfake attacks. Criminals can use deepfake to impersonate sellers or buyers and then conduct fake transactions. The danger of deepfake in e-commerce potentially harms both sellers and buyers, and it can damage consumer trust in e-commerce platforms.

3. Online Dating

Have you ever been a victim of online dating when someone's photo on the app differs from reality? According to the Times of India, the use of deepfake in online dating in India is on the rise. Tenable reports that 66% of people are victims of online dating fraud in India. In 2023, 43% of Indians became voice fraud victims, and 83% of them lost money. Although not all of them are due to deepfake, deepfake has significant implications for online dating platforms. Deepfake is usually used to deceive victims in terms of appearance and personality. Moreover, dating involves personal emotions, so those who are not careful can become victims.

4. Health

The healthcare and pharmaceutical sectors are not immune to deepfake threats, ranging from fake news about drugs and vaccines to the manipulation of medical records. This can cause public panic, misdiagnosis, or improper medication use. The healthcare industry needs to educate the public and verify information to address this issue. In this regard, legal protection is essential to enforce compliance with privacy regulations, prevent the spread of false medical information, and protect healthcare data.

As part of the data protection solution, VIDA offers the latest technology development, namely VIDA Deepfake Shield. In this case, VIDA has been strengthened with the ability to control the entire process in the biometric system, so that even the smallest fraud loopholes can be quickly prevented. Facing evolving cyberattacks, adopting solutions like VIDA Deepfake Shield is no longer an option but a necessity.

Download whitepaper VIDA "Are Indonesian Businesses Ready to Combat AI-Generated Fraud?" di sini 

VIDA - Verified Identity for All. VIDA provides a trusted digital identity platform.

Latest Articles

The Importance of Biometric Verification for Buy Now Pay Later
Digital Identity Verification

The Importance of Biometric Verification for Buy Now Pay Later

Biometric verification is essential for protecting BNPL from attacks such as fraud or user data breaches. Check out the explanation in the ...

June 11, 2024

Why Is Digital Identity Verification Important for Insurance?
verify

Why Is Digital Identity Verification Important for Insurance?

Digital identity verification is crucial to implement in insurance to prevent fraud. What are its roles and benefits? Check out the explana...

June 10, 2024

Understanding Presentation Attack and Injection Attack Using Deepfake

Understanding Presentation Attack and Injection Attack Using Deepfake

Presentation Attacks and Injection Attacks threaten the security of biometric verification. As a result, application servers can be deceive...

June 08, 2024