Deepfake fraud hits half of global businesses

In 2024, incidents related to deepfake frauds have been reported on a large scale, revealing a growing threat in AI-driven cybercrimes. A recent study shows that 49% of companies worldwide have been impacted by audio and visual scams, with incidents being spotted every second. The figures indicate the need for better security measures.

Amid the rise of AI tools, deepfakes have become increasingly common. By deploying artificial intelligence, it is possible to create and manipulate videos and audio files, distorting reality and potentially causing serious damage. According to the Deepfake Trends 2024 commissioned by Regula, there has been a 12% rise in audio deepfake incidents and a 20% rise in video deepfakes from 2022 to 2024.

The report indicates a more sophisticated cybercrime scene in comparison to previous years. Countries like Germany, USA, Mexico, and Singapore have been remarkably impacted by deepfake fraud. Despite efforts to counter the advancement of identity breaches, companies remain as major targets of criminal organizations.

Impact on Dutch companies

The study highlights that sectors such as financial services, aviation, and technology are affected most. Due to the country's high level of digitization, deepfake frauds pose serious risks to Dutch companies. As global commerce increasingly relies on digital interactions, the Netherlands is particularly vulnerable.

Recently, the Dutch digital bank Bunq reported an incident in which a scammer used deepfake technology to impersonate the company's CEO. On the occasion, an employee received a video call with an urgent request to authorize a significant money transaction. Fortunately, the bank had trained their staff to detect potential fraud by identifying inconsistencies in audio and images, which led them to spare financial damages.

Possible alternatives

The surging threats of deepfake technologies led companies to invest in tools to detect potential fraud. The Dutch start-up DuckDuckGoose has revolutionized the fight against deepfakes with its innovative AI system that spots fraudulent content. Due its prominence in the market and leadership in digital security, the company has recently raised €1.3 million from investors. Now, the Delft-based start-up plans to enhance its technology to unmask more challenging and sophisticated deepfake material.