Deepfake Imposter Scams Are Driving a New Wave of Fraud
AI could turbocharge the cybertheft economy. The world’s banking industry is scrambling to contain the risk.
Illustration: Jinhwa Jang for Bloomberg Markets
Computer-generated children’s voices so realistic they fool their own parents. Masks created with photos from social media that can penetrate a system protected by face ID. They sound like the stuff of science fiction, but these techniques are already available to criminals preying on everyday consumers.
The proliferation of scam tech has alarmed regulators, police and people at the highest levels of the financial industry. Artificial intelligence in particular is being used to “turbocharge” fraud, US Federal Trade Commission Chair Lina Khan warned in June, calling for increased vigilance from law enforcement.