Helly everyone,
I am usually an optimistic cheerful lass looking into the future with a lot of hope. But after watching Netflix's series called "Years and Years" my optimism somewhat subsided.
If we read the latest news, we read more and more about AI investment fraud. So I am bringing this up here, so that we are aware. Deep-fake driven scams are a growing concern in finance and tech. The deepfake videos are so convincing. It takes only 15 seconds for the AI to hear your voice and then create an extremely convincing video. And the victims of this type of fraud include very crude investors and specialists. Some examples:
CNN
Finance worker from multinational firm tricked into paying USD 25 million to fraudsters using deepfake technology to pose as that company's CFO.
GBP 1.24 million was lost to fraudsters using deepfake technology on the Isle of Man
Bolster article on how these investment scams are done
This raises important questions about risk, verification and trust for investors. Let's discuss what it means for the investment professionals:
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What technologies or protocols could help prevent fraud using AI-generated impersonations?
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Should investment professionals be trained to detect deepfakes - and how?
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What role should regulation play in combatting deepfake-related financial crime?
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How might the risk of deepfake scams affect trust in digital client relationships?
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Are there any tools or vendors you've seen that are doing a good job of detecting or preventing this type of fraud?
Keen to hear from you.
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Aya Pariy
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