A new study from iProov has revealed that 77% of cybersecurity decision-makers in financial services are concerned about the threat deepfakes pose to their industry.
However, just 28% say they have already implemented measures to combat such a threat.
The research polled over 100 experts responsible for overseeing cybersecurity operations in financial services organisations. The results highlight how seriously the technology’s ever-growing threat is perceived, whilst also revealing a distinct lack of action having been taken to mitigate it.
As both artificial intelligence and machine learning technologies have become more advanced and readily available, deepfakes have also been increasingly deployed by fraudsters in a commercial context too. In fact, just under half (43%) of the experts polled cited deepfakes as the tactic most likely to compromise facial authentication defences. Moreover, 71% think their customers are at least somewhat concerned about the deepfake threat, and almost two-thirds (64%) think it is due to worsen.
This is especially concerning in a personal finance context, given that respondents expected those making online payments (50%), and those using personal banking services (46%), to be most at risk from deepfakes.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now