Deepfake KYC Attack

Luis Oliveira
Dec 15, 2024By Luis Oliveira
Hand pick wooden doll on paper clipboard with text KNOW YOUR CUSTOMER.
Deepfake KYC Attack.

Preparing for the Deepfake Tsunami: How to Protect Yourself?

In the fast-changing digital world, deepfake technology is no longer something distant. It is a tsunami that will soon affect everyone, and we need to be prepared. Deepfakes are synthetic media created by artificial intelligence (AI). They can make realistic images, videos, or audio that look and sound real but are completely fake. While some people see the creativity behind this technology, others fear the harm it can do. Let’s discuss how we can prepare ourselves for this challenge and protect what is important.

tsunami danger panel

What Are Deepfakes, and Why Should We Worry?

Deepfakes use advanced AI models to make fake but convincing content. Imagine watching a video of a leader announcing a big decision that never happened or hearing the voice of a family member asking for help, but it’s not really them. These situations are not from a science-fiction movie; they are already possible. Deepfakes make us question if we can trust what we see and hear, creating risks for communication and decision-making.

For businesses, the risks are even bigger. Imagine a fake video ruining a company’s reputation or cybercriminals using deepfake technology to get through KYC (Know Your Customer) processes. As shown by Plaid’s work in crypto compliance, strong KYC systems are very important to prevent fraud and money laundering. But as deepfake technology improves, even these systems will need upgrades.
Plaid's article can be find in Citations sector.

Deepfake creator applications are being used by cyber criminal to authenticate fake photos, videos and documents, as shown in the figure below:

KYC deepfake criminanl application

How to Prepare for the Deepfake Tsunami
The best way to deal with a big challenge is to prepare early. Here are some steps that can help individuals and businesses protect themselves from deepfake-related risks:

1. Understand the Technology
You don’t need to become a technical expert, but it’s good to know what deepfakes are and how they are made. They use techniques like Generative Adversarial Networks (GANs) to create fake content. If you know the basics, you can learn to notice problems like strange lighting, weird blinking, or voices that sound unnatural. These small details can be signs of manipulation.

2. Strengthen Verification Processes
Companies, especially in finance and crypto, need stronger ways to check identities. This can include multi-factor authentication (MFA) and advanced AI tools for biometric checks. Companies like Plaid are leading in this area by combining compliance with high-tech identity verification. These kinds of systems are critical to prevent deepfake-based fraud.

3. Adopt Deepfake Detection Technology
AI can also be used to detect deepfakes. Platforms like Facti.ai (URL available in Citations) are good examples of tools that help find fake content. By adding deepfake detection to KYC processes, businesses can make it harder for fraudsters to use fake media to cheat the system. 

https://facti.ai/

4. Educate and Train
Training is very important. Employees, customers, and even families should learn how to recognize deepfakes. Companies can run workshops or send guides that teach people how to verify content and report anything suspicious. For example, if a video or audio seems fake, it should always be double-checked with a trusted source.

5. Establish Legal and Ethical Boundaries
Governments and businesses must work together to create rules that stop the misuse of deepfake technology. Laws should punish people who create fake content to harm others. At the same time, ethical guidelines should ensure that companies using AI do so responsibly. As the Liberty Reserve case showed, strong laws are necessary to fight large-scale fraud.

6. Stay Informed
The fight against deepfakes is ongoing. Technology changes quickly, and it’s important to stay updated about new tools and threats. Following news about AI, cybersecurity, and detection methods can help you stay ready for new challenges.

A Call to Action
The deepfake tsunami is coming, but we don’t need to panic. With the right tools, awareness, and preparation, we can handle this challenge and even turn it into an opportunity to improve our systems. Whether you are protecting your identity or your business, being proactive is the best defense.

Deepfakes remind us that in the digital world, we should always verify before trust!  What we see and hear online is not always real. 

Citations:
Plaid: Tom Sullivan:
https://plaid.com/resources/compliance/kyc-crypto/
Facit.ai URL: Protecting the World Against Deepfake Digital Identity
https://facti.ai/

Credits:
Tom SulLivan: Tom is a fintech industry writer who creates whitepapers and articles for Plaid. His work has been featured in publications like Forbes, Fortune, and Inc. He's passionate about the freedom that the union between financial services and technology can create.

Thank you for reading Cyberfacti Academy article.

B-Aware & B-Safe!

Luis Oliveira