What Are Deepfakes?
With the advancement of technology over time, new types of cybersecurity threats emerge for consumers and businesses to worry about. Lately, deepfake cybersecurity breaches have become more common. According to Tech Beacon, deepfakes are defined as “synthetic media in which a person in a video or audio is replaced with someone else’s likeness or voice.” This type of threat can ruin businesses quickly due to how convincing the synthetic media are.
Due to the advancement of artificial intelligence (AI) and machine learning, cyberhackers and criminals can create false audio and images pretending to be you or another coworker. Hackers are so precise, they can perform flawless impersonations. The frustrating part of the process is that if you don’t know this is a false video call or audio, hackers can easily obtain the information they need. Once financial details or unreleased company information falls into the wrong hands, it can be disastrous.
Experts found that deepfake hacking methods have increased by 84% between December 2018 and October 2019. Research estimates $250 million in losses, as a result of deepfake hacking for the 2020 fiscal year.
Why It’s Popular Among Hackers
Businesses still struggle with high-level email phishing scams, making deepfakes harder to prevent. Due to the lack of knowledge surrounding this threat, deepfakes are becoming a new favorite method for cybercriminals who have the time and patience to implement this method. Deepfake hackers attack businesses in these ways:
- Impersonating clients or suppliers asking for payments
- Pretending to be supervisors and business owners, asking for fund transfers or sensitive information
- Using fake blackmail audio and videos for extortion
- Presenting fake pictures, videos, and audio files on social media to create slander campaigns
The first step in preventing deepfake attacks is to be aware it is a method of cybersecurity destruction. Once you are informed, the next question is how you can protect your business. There are a few available solutions, like Deeptrace or Cogito. These software programs can be expensive for small- and medium-sized businesses. For those on a limited budget, here are some things to consider executing immediately:
- Educate staff members about deepfakes, reporting odd situations before proceeding with any actions asked
- Add two-step verification to your system for emails, phone calls, and video sessions, ensuring none provided over these communication methods are used over existing ones
- Strengthen security measures for cybersecurity, adding systems if you currently have none or looking into upgrades for your current system
- Add additional steps for fund transfer verification — this helps ensure the transfer is supposed to occur and can save your business thousands of dollars, if not.
Taking action now is the best thing you can do for your business. Employees and business owners should also periodically check in on the issue to see if better methods of protection are discovered.
As new threats arise, you must be proactive! At WesTec Services, our IT professionals want to help you safeguard your business and its assets. If you’re unsure how to get started, contact us today.