Fraud and Emerging Tech: Deepfakes

As generative AI (genAI) continues to advance, we have seen many beneficial and productive uses of this technology. However, alongside these gains, genAI can also be misused in harmful ways. For example, genAI has made it easier for bad actors to create sophisticated deepfakes, which can be used to defraud organizations. As such, it is important for organizations to consider the potential fraud risks arising from deepfakes and how to effectively mitigate such risks. This article, part of an emerging technology series from the Anti-Fraud Collaboration, explores what deepfakes are, how deepfakes may be used to perpetrate fraud against and within organizations, and how members of the financial reporting ecosystem can mitigate fraud risks arising from deepfakes.