Deepfake technology is set to become a major cybersecurity issue, primarily because it blurs the lines between what is real and what is fake. With AI and machine learning advancements making it easier to create realistic content, distinguishing authentic voices, images, and narratives from fakes has become increasingly challenging. Deepfakes are now the second most common cybersecurity incidents faced by businesses after malware. The pressing question is: Are businesses prepared enough to combat this threat?
A recent cybersecurity survey revealed that 35% of companies experienced a deepfake security incident in the last year, while 37% are managing third-party risks linked to deep fakes. The most common threats involve business email compromise (BEC), where attackers use AI-powered voice or video to trick recipients into transferring corporate funds. However, the risks extend beyond financial theft to include credential theft, reputational damage, and authentication bypass.
Deepfake technology needs to be prevented before a user clicks a malicious link. This is especially critical when considering targeted attacks on senior roles within businesses and supply chains. Sophisticated deep fake manipulations can convincingly impersonate senior executives, making it difficult for even trained professionals to distinguish real messages from fakes. Executives and other high-ranking individuals are prime targets for cybercriminals who use deepfake technology to manipulate communications, alter payment details, and execute fraudulent transactions.
95% of breaches are caused by human error, which means businesses must focus on improving their data authentication processes and employee training to recognise and respond to deep fake threats. Cyber protections, ranging from employee management solutions to advanced security information and event management (SIEM) systems, are essential.
How to defend your business against deepfakes
Knowing where to start can be a daunting challenge, but we’re here to help break it down for you. Defending against deepfakes requires a strategy rooted in the zero trust framework, where every piece of content and email is scrutinised for authenticity. To achieve this, organisations must implement internal security controls to verify the origin of all communications.
This approach should extend to partners and supply chains, incorporating multi-factor authentication (MFA) to confirm the original source of information. For instance, secure processes for changing details should involve multiple authorisation levels and a mechanism preventing same-day reversals to ensure any changes are legitimate.
Introducing time delays or “air gaps” similar to those used by banks for high-risk transactions can add an extra layer of protection. These measures give organisations time to verify the authenticity of requests before acting on them. Also, embedding digital certificates into emails, data, and images will help validate the origin of content. This method ensures that any material can be traced back to a verified source, providing an added layer of security against deepfake threats.
Organisations must adopt a defence-in-depth strategy to counter the increasing volume and sophistication of deepfakes. Automated processes for checking and validating content origins will become essential. By integrating these checks and balances, businesses can effectively protect against deep fake attacks, ensuring the authenticity of all communications and transactions.
The next 12 months
In the coming year, we’re looking at a significant increase in financial allocations and supply chain transactions, with a 25% rise anticipated. This means that potentially one-fourth of all transactions could be malicious or have malintent. It’s alarming to see that 43% of businesses have already cited compromised partner data in the past 12 months.
Over a third of businesses have experienced a deepfake security incident in the last year. On top of that, business email compromise and phishing continue to exploit human weaknesses. These threats aren’t limited to a single industry; they’re pervasive across all sectors. We’ve seen this pattern before, where attacks start out broadly and then become more sophisticated and targeted, increasing their effectiveness.
For example, the casino-related attacks at the end of 2023, where voice synthesis was used to a very high level. Biometrics, including voice synthesis, are widely used in financial institutions and even for logging into services on our phones. This means we need to be more vigilant about protecting our identities and personal information. For public figures, whose voices and images are readily available, the risk is even higher as this content can be easily copied and synthesised.
The technology behind these attacks is advancing rapidly with AI and machine learning. While it’s encouraging that these technologies can help us detect and scan for malicious content, it doesn’t stop the generation of such content. We need better strategies to identify and take down fake content, whether it’s on the Internet or the dark web. Blocking sources of malicious content repeatedly is crucial, and this is where AI can significantly help.
What next?
As the technology behind deepfake attacks continues to advance, so must our strategies to detect, prevent, and respond to them. The good news is that AI and ML scanning techniques are developing just as fast as content is being created. With that being said, prevention is key in cybersecurity, so are actionable steps you can implement immediately after reading this article.
Action Items for This Week:
- Review your data authentication processes. Ensure all are two-step or multi-factor.
- Implement checks for every origination source request for transactions.
- Collaborate with supply chain partners to ensure data authenticity and protection, especially when verifying payment details.
- Use AI-driven tools to monitor and block malicious content effectively.
