Why Is This Important?
Deepfake has become one of the most dangerous tools in cybercrime. Fake videos and audio recordings are used for:
Impersonating senior executives or CFOs to trick employees into transferring money.
Spreading fake press releases to mislead investors and customers.
Damaging a company’s reputation through fabricated statements or interviews.
Voice phishing (“vishing”), where fraudsters call employees pretending to be their superiors.
Real-life example:
In 2024, a financial employee in Hong Kong transferred $25 million after believing they were attending a genuine video conference with their CFO. Fraudsters used deepfake technology to create a realistic video and voice of the executive, leading to an authorised transfer. (Source: CNN).
What Are the Risks?
Fake Payment Requests
Cybercriminals record executives’ voices (from webinars, meetings, or interviews) and generate convincing deepfake audio to instruct finance teams to approve fraudulent transactions.
Fake Online Meetings
Attackers can hijack video conferences or use deepfake avatars to impersonate executives, making fake demands appear legitimate.
Reputation Manipulation
False recordings can be created to make it seem as though company executives have made inappropriate statements, causing reputational and financial damage.
Extortion and Blackmail
Cybercriminals may generate realistic yet fake compromising videos of employees and demand ransom in exchange for keeping them private.
How Can You Protect Yourself?
Be Wary of Unexpected Requests
- If you receive an email, Teams message, or phone call from a “boss” requesting urgent payments or sensitive data, always verify their identity through another channel (e.g., calling a known number or checking in person).
- Fake messages often create a sense of urgency (“Do this immediately, or there will be consequences!”) – don’t rush into action.
Pay Attention to Video Call Details
- If a speaker looks or sounds slightly different than usual (odd pauses, unnatural voice tone, strange facial movements), it might be a deepfake.
- If in doubt, ask them to perform a simple action (e.g., raise their hand, turn their head) – deepfake technology often struggles with real-time movements.
- For critical business discussions, consider turning on cameras and verifying the other party’s identity through an independent method (e.g., a text or email confirmation).
Protect Your Data from Cybercriminals
- Limit public recordings of your voice (e.g., webinars, speeches) – fraudsters can use these to generate deepfake versions of you.
- Avoid sharing sensitive information via private messaging apps like WhatsApp, Messenger, or SMS – these are not secure for corporate communications.
Report Suspicious Activity
- If you receive an unusual message, call, or request, inform your IT department or supervisor immediately – even if it turns out to be a false alarm, it’s better to be safe than sorry.
- Remember, deepfake attacks can target any employee, not just executives! Cybercriminals frequently manipulate staff at all levels.
Stay Alert!
Deepfake is no longer a thing of the future—it’s a current threat that could impact your workplace too.That’s why it’s important to know how to recognize it and protect yourself and your company from its effects. Your awareness and vigilance can make a big difference!