With technological advances at an all-time high, it\u2019s crucial to stay on top of new, sophisticated security risks to protect your data. Deepfake technology, which uses artificial intelligence to create convincing fake videos and audio recordings, is now being used by cybercriminals to commit financial fraud.<\/p>\n\n\n\n
As your trusted financial partner, Amerant Bank wants to ensure you’re equipped with the knowledge and tools to protect yourself from these evolving threats.<\/p>\n\n\n\n
Deepfakes are artificially created images, videos, and audio recordings designed to convincingly emulate real human characteristics. Using advanced AI technology called deep learning, these synthetic media can make it appear as though someone said or did something they never actually did.<\/p>\n\n\n\n
The most common types include:<\/p>\n\n\n\n
While this technology has legitimate applications, criminals are increasingly using it for malicious purposes.<\/p>\n\n\n\n
Identity Theft and Social Engineering<\/strong><\/p>\n\n\n\n Criminals are increasingly using deepfake voice and video technology to impersonate legitimate customers when contacting financial institutions. Their goal is often to update account contact information, bypass security controls, or initiate unauthorized monetary transfers.<\/p>\n\n\n\n In addition, fraudsters use AI-generated videos and images to open bank accounts under fake or synthetic identities.<\/p>\n\n\n\n The Modern Imposter Scam<\/strong><\/p>\n\n\n\n Traditional phone scams have become more convincing with the rise of deepfake technology. Criminals can now perfectly mimic the voice and appearance of a public figure, a government official, a family member in distress, or a technical support representative. These tactics are designed to create a sense of urgency and pressure victims into making immediate payments or disclosing sensitive information.<\/p>\n\n\n\n Remote Work Fraud<\/strong><\/p>\n\n\n\n Scammers are increasingly combining deepfake technology with stolen personal information to apply for remote employment opportunities, particularly in IT, cybersecurity, and other sensitive roles that give them access to company systems, customer data, or financial information.<\/p>\n\n\n\n Enhanced Business Email Compromise<\/strong><\/p>\n\n\n\n While criminals have long impersonated CEOs via email to request urgent wire transfers, deepfake technology has elevated these schemes by enabling convincing phone and video calls that appear to come directly from company leaders. This added layer of authenticity can make even vigilant employees vulnerable to fraud.<\/p>\n\n\n\n Synthetic Social Media Manipulation<\/strong><\/p>\n\n\n\n Fraudsters use AI-generated profiles, photos, videos, and content to create realistic but fictitious social media accounts. These accounts are often used to establish false credibility and deceive potential customers into sharing sensitive personal or financial information.<\/p>\n\n\n\n While deepfake technology is advancing rapidly, current iterations still have telltale signs you can watch for:<\/p>\n\n\n\n Video Red Flags<\/strong><\/p>\n\n\n\n Audio Red Flags<\/strong><\/p>\n\n\n\n Practice Healthy Skepticism<\/strong>:\u00a0If a voice message or video call feels even slightly off, trust your instincts. In our era of remote communications, it’s better to be overly cautious than to fall victim to fraud.<\/p>\n\n\n\n Always Verify Through Trusted Channels<\/strong>:\u00a0Before acting on any financial request\u2014no matter how urgent it seems\u2014verify the request using known, trusted contact methods. Call the person back using a number you have on file, not one provided in the suspicious communication.<\/p>\n\n\n\nSchemes Targeting Businesses<\/strong><\/strong><\/h3>\n\n\n\n
Red Flags: How to Spot a Deepfake<\/strong><\/h2>\n\n\n\n
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Your Defense Strategy Against Deepfake Fraud<\/strong><\/h2>\n\n\n\n
Immediate Steps You Can Take<\/strong><\/h3>\n\n\n\n