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
Individual Targeting Schemes<\/strong><\/p>\n\n\n\n Identity Theft and Social Engineering<\/strong> Criminals are using deepfake voice calls and images to contact your financial institution to impersonate you, attempting to update your contact information or initiate fraudulent wire transfers. They may even use synthetic audio or video to create fake bank accounts under false identities.<\/p>\n\n\n\n The Modern Imposter Scam<\/strong> Traditional phone scams are becoming more convincing with deepfake technology. Criminals can now perfectly mimic the voice of a public figure, government official, distressed relative, or technical support expert to pressure victims into making immediate payments.<\/p>\n\n\n\n Remote Work Fraud<\/strong> Increasingly, scammers are using deepfakes combined with stolen personal information to apply for remote positions, particularly in IT and data-sensitive roles where they can access valuable personal and financial information.<\/p>\n\n\n\n Business-Focused Attacks<\/strong><\/p>\n\n\n\n Enhanced Business Email Compromise<\/strong> While criminals have long impersonated CEOs via email to request urgent wire transfers, deepfake technology now allows them to make these requests via convincing phone calls, adding a layer of authenticity that can fool even cautious employees.<\/p>\n\n\n\n Synthetic Social Media Manipulation<\/strong> Fake social media accounts powered by AI-generated photos and content can manipulate markets and spread misinformation that impacts financial institutions and their customers.<\/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 Immediate Steps You Can Take<\/strong><\/p>\n\n\n\n Practice Healthy Skepticism<\/strong> If 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> Before 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\nRed 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