Definition
Deepfake fraud
In one sentence
Deepfake fraud is the use of AI-generated or AI-altered audio, video or images to impersonate real people, typically executives, suppliers or job candidates, in order to steal money, data or access.
Deepfake Fraud Explained
Deepfake fraud adds a voice and a face to familiar scams. A finance clerk receives a call that sounds exactly like the CEO, or joins a video meeting where several familiar colleagues appear and ask for an urgent transfer. In a widely reported 2024 case in Hong Kong, an employee of a multinational firm transferred a large sum after a video call in which the other participants were deepfakes.
Other uses include fake job candidates using real-time face and voice filters during remote interviews, cloned voices calling IT help desks for password resets, and synthetic identity documents for account opening.
The defence is to stop treating a voice or face as proof of identity. Require callback verification on known numbers for payments and credential resets, dual approval for large transfers, agreed code words for executives, and stronger identity checks during remote hiring. Training should include realistic examples so staff feel comfortable pausing a request from someone who sounds like their boss.
General information for Canadian organizations, not legal advice.