04
Fri, Oct
2 New Articles

Tech industry ramps up efforts to combat rising deepfake threats

Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Deepfake fraud is surging, signaling an alarming trend in corporate security.

Scammers can now create convincing voice impersonations of executives, potentially manipulating stock prices and orchestrating multi-million dollar frauds. As companies rush to bolster defenses, experts say many remain unprepared for this rapidly evolving threat.

“Bad actors have a low barrier to entry,” warns Srinivas Tummalapenta, an IBM Distinguished Engineer & CTO of IBM Security Services. With just $5 and a minute-long voice sample, scammers can now impersonate CEOs, potentially wreaking havoc on company finances and reputations.

Deepfakes are highly realistic digital forgeries created using artificial intelligence technology. These manipulated videos or audio recordings can make it appear that someone is saying or doing something they never actually said or did, posing significant challenges for distinguishing truth from fiction in digital media.

The scale of this threat is staggering. According to Onfido’s Identity Fraud Report 2024, there has been a 3,000% increase in deepfakes.

And the stakes are high. From elaborate spam to manipulated executive videos, the landscape of corporate fraud is evolving rapidly. “You can influence the share market,” Tummalapenta notes.

Banks are already on alert, using real-time voice analysis in call centers. But many companies still need to prepare. “The funds are unavailable,” Tummalapenta explains, with firms often failing to recognize the threat until they’ve been hit.

In one recent incident, scammers used AI technology to impersonate Ferrari CEO Benedetto Vigna in an elaborate fraud attempt.

A Ferrari executive received suspicious text messages from an unknown number claiming to be Vigna. The messages, which included the CEO’s photo, hinted at a major acquisition and asked for help.

The quick-thinking executive saw through the ruse, stopping the scam in its tracks. Others haven’t been so lucky. Tummalapenta says creating convincing fakes is alarmingly simple, while detection requires sophisticated tools.

Combating the threat

IBM is working with Reality Defender, a company whose technology can detect manipulated voice, video and image content. Tummalapenta demonstrates how the system analyzed voice samples, identifying an original recording as a complete match and a machine-generated sample as highly manipulated.

Real-time detection systems are crucial for industries like banking. Tummalapenta describes a system where “voice packets are analyzed in real-time, allowing the system to detect fakes and instruct the analyst to take appropriate action.”

The executive also highlights the potential for market manipulation through deepfakes. “A CEO’s public presentation could be manipulated to influence the stock market,” he warns.

However, many corporations have yet to implement robust defenses. “While technologies and integrators are available, many corporations haven’t allocated funds to address this problem,” Tummalapenta notes.

He stresses that AI fuels the creation of deceptive media, but innovative countermeasures are evolving rapidly to keep pace. The hurdle lies in corporations recognizing the risk and prioritizing and funding these safeguards against digital manipulation.

As attacks increase, companies are becoming more aware of the risks, particularly to high-level executives. “We’re getting inquiries from companies whose C-suite has been impacted, asking how to protect their executives,” Tummalapenta explains.

Education and awareness remain critical components of an effective defense strategy. “We’re educating people,” Tummalapenta says. “The more attacks they see, the more they understand the threat.”

IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM's legendary commitment to trust, transparency, responsibility, inclusivity, and service.

For more information, visit: www.ibm.com.

BLOG COMMENTS POWERED BY DISQUS

LATEST COMMENTS

Support MC Press Online

$

Book Reviews

Resource Center

  • SB Profound WC 5536 Have you been wondering about Node.js? Our free Node.js Webinar Series takes you from total beginner to creating a fully-functional IBM i Node.js business application. You can find Part 1 here. In Part 2 of our free Node.js Webinar Series, Brian May teaches you the different tooling options available for writing code, debugging, and using Git for version control. Brian will briefly discuss the different tools available, and demonstrate his preferred setup for Node development on IBM i or any platform. Attend this webinar to learn:

  • SB Profound WP 5539More than ever, there is a demand for IT to deliver innovation. Your IBM i has been an essential part of your business operations for years. However, your organization may struggle to maintain the current system and implement new projects. The thousands of customers we've worked with and surveyed state that expectations regarding the digital footprint and vision of the company are not aligned with the current IT environment.

  • SB HelpSystems ROBOT Generic IBM announced the E1080 servers using the latest Power10 processor in September 2021. The most powerful processor from IBM to date, Power10 is designed to handle the demands of doing business in today’s high-tech atmosphere, including running cloud applications, supporting big data, and managing AI workloads. But what does Power10 mean for your data center? In this recorded webinar, IBMers Dan Sundt and Dylan Boday join IBM Power Champion Tom Huntington for a discussion on why Power10 technology is the right strategic investment if you run IBM i, AIX, or Linux. In this action-packed hour, Tom will share trends from the IBM i and AIX user communities while Dan and Dylan dive into the tech specs for key hardware, including:

  • Magic MarkTRY the one package that solves all your document design and printing challenges on all your platforms. Produce bar code labels, electronic forms, ad hoc reports, and RFID tags – without programming! MarkMagic is the only document design and print solution that combines report writing, WYSIWYG label and forms design, and conditional printing in one integrated product. Make sure your data survives when catastrophe hits. Request your trial now!  Request Now.

  • SB HelpSystems ROBOT GenericForms of ransomware has been around for over 30 years, and with more and more organizations suffering attacks each year, it continues to endure. What has made ransomware such a durable threat and what is the best way to combat it? In order to prevent ransomware, organizations must first understand how it works.

  • SB HelpSystems ROBOT GenericIT security is a top priority for businesses around the world, but most IBM i pros don’t know where to begin—and most cybersecurity experts don’t know IBM i. In this session, Robin Tatam explores the business impact of lax IBM i security, the top vulnerabilities putting IBM i at risk, and the steps you can take to protect your organization. If you’re looking to avoid unexpected downtime or corrupted data, you don’t want to miss this session.

  • SB HelpSystems ROBOT GenericCan you trust all of your users all of the time? A typical end user receives 16 malicious emails each month, but only 17 percent of these phishing campaigns are reported to IT. Once an attack is underway, most organizations won’t discover the breach until six months later. A staggering amount of damage can occur in that time. Despite these risks, 93 percent of organizations are leaving their IBM i systems vulnerable to cybercrime. In this on-demand webinar, IBM i security experts Robin Tatam and Sandi Moore will reveal:

  • FORTRA Disaster protection is vital to every business. Yet, it often consists of patched together procedures that are prone to error. From automatic backups to data encryption to media management, Robot automates the routine (yet often complex) tasks of iSeries backup and recovery, saving you time and money and making the process safer and more reliable. Automate your backups with the Robot Backup and Recovery Solution. Key features include:

  • FORTRAManaging messages on your IBM i can be more than a full-time job if you have to do it manually. Messages need a response and resources must be monitored—often over multiple systems and across platforms. How can you be sure you won’t miss important system events? Automate your message center with the Robot Message Management Solution. Key features include:

  • FORTRAThe thought of printing, distributing, and storing iSeries reports manually may reduce you to tears. Paper and labor costs associated with report generation can spiral out of control. Mountains of paper threaten to swamp your files. Robot automates report bursting, distribution, bundling, and archiving, and offers secure, selective online report viewing. Manage your reports with the Robot Report Management Solution. Key features include:

  • FORTRAFor over 30 years, Robot has been a leader in systems management for IBM i. With batch job creation and scheduling at its core, the Robot Job Scheduling Solution reduces the opportunity for human error and helps you maintain service levels, automating even the biggest, most complex runbooks. Manage your job schedule with the Robot Job Scheduling Solution. Key features include:

  • LANSA Business users want new applications now. Market and regulatory pressures require faster application updates and delivery into production. Your IBM i developers may be approaching retirement, and you see no sure way to fill their positions with experienced developers. In addition, you may be caught between maintaining your existing applications and the uncertainty of moving to something new.

  • LANSAWhen it comes to creating your business applications, there are hundreds of coding platforms and programming languages to choose from. These options range from very complex traditional programming languages to Low-Code platforms where sometimes no traditional coding experience is needed. Download our whitepaper, The Power of Writing Code in a Low-Code Solution, and:

  • LANSASupply Chain is becoming increasingly complex and unpredictable. From raw materials for manufacturing to food supply chains, the journey from source to production to delivery to consumers is marred with inefficiencies, manual processes, shortages, recalls, counterfeits, and scandals. In this webinar, we discuss how:

  • The MC Resource Centers bring you the widest selection of white papers, trial software, and on-demand webcasts for you to choose from. >> Review the list of White Papers, Trial Software or On-Demand Webcast at the MC Press Resource Center. >> Add the items to yru Cart and complet he checkout process and submit

  • Profound Logic Have you been wondering about Node.js? Our free Node.js Webinar Series takes you from total beginner to creating a fully-functional IBM i Node.js business application.

  • SB Profound WC 5536Join us for this hour-long webcast that will explore:

  • Fortra IT managers hoping to find new IBM i talent are discovering that the pool of experienced RPG programmers and operators or administrators with intimate knowledge of the operating system and the applications that run on it is small. This begs the question: How will you manage the platform that supports such a big part of your business? This guide offers strategies and software suggestions to help you plan IT staffing and resources and smooth the transition after your AS/400 talent retires. Read on to learn: