Deepfakes: The Quiet Menace Behind the Financial Curtain
Just when you thought IT was all about firewalls and VPNs, the latest survey from iProov shows a new nightmare: deepfakes. According to the data, a whopping 77 % of cyber‑security leaders in banking and finance are worried about this new tech, yet only 28 % have actually started defending against it. That’s like having a burglar alarm that only works 28 % of the time.
Key Findings
- Hype vs. Action: 77 % see deepfakes as a serious threat, but just 28 % are rolling out safeguards.
- Credibility Concerns: 43 % of experts think deepfakes will be the biggest bluffer against facial authentication.
- Who’s Most At Risk: Payment processors (50 %) and personal banking users (46 %) are flagged as high‑risk groups.
Quotes From the Front Lines
Andrew Bud, Founder & CEO of iProov: “It’s good to hear the industry is waking up to deepfakes, but the real test is what we actually do. If we wait too long, the next AI upgrade will look just like your grandma’s selfie.”
Bud also warned: “The era when we can trust what we see is slipping. Every photo and video might soon be a trick. Our only safety net? Cutting‑edge tech that spots the fake before it’s too late.”
Why The Fear Is Real
Deepfakes aren’t just a sci‑fi Easter egg – they’ve been used in bogus news, fake porn, and phishing scams that trick both people and automated systems. Last month, Facebook announced a ban on deepfakes amid concerns it could sway the upcoming US election. Meanwhile, fraudsters are weaponizing AI to breach financial platforms.
All this drama means you can’t ignore the problem. If you think your bank’s biometric system is bulletproof, think again. The tools that once helped us fight fraud can now be weaponized against us.
What’s Next?
Adopting robust biometric authentication that can flag deepfakes is no longer optional. It’s a necessity. And for the average consumer, staying savvy and trusting advanced anti‑fake tech is the best way to stay safe.
