AI-powered frauds are surging worldwide, costing billions; experts share ways to protect yourself
17 August 2025, New Delhi
Imagine receiving a late-night call from your boss asking for an urgent fund transfer or a panicked voice note from a family member pleading for help. Increasingly, What looks and sounds genuine is the work of AI, not reality. Welcome to the unsettling world of deepfake fraud, where artificial intelligence clones human voices and faces to commit financial crimes.
A recent report by iProov revealed that while 74% of people fear the impact of deepfakes, only 0.1% can identify them accurately. The financial toll is staggering — global losses linked to deepfake scams are estimated at $12 billion today, with projections touching $40 billion by 2027, as per data published on Wikipedia.
Cases That Triggered Alarm
The danger is not hypothetical. In Hong Kong, a multinational company was tricked into transferring $25 million after fraudsters used a video deepfake to impersonate its chief financial officer, according to a report by Barron’s. Similarly, Business Insider reported that scammers now need only a few seconds of a person’s online video or voice clip to generate a near-perfect clone, which is then used for bank fraud or ransom scams.
Why People Fall for It
Experts warn that deepfakes prey on one of our strongest instincts — trust. “We are wired to believe what we see and hear,” notes a Trend Micro advisory. Yet, studies show that only a fraction of internet users critically evaluate digital content before responding. This gap between human perception and AI manipulation has made scams both highly effective and difficult to detect.
Spotting and Stopping Deepfakes
Though deepfakes are becoming more polished, experts point out subtle clues that can help in detection. Odd blinking patterns, unnatural pauses in speech, mismatched lip movements, or awkward gestures often betray manipulated videos. Trend Micro suggests that in suspicious video calls, asking spontaneous questions or requesting specific gestures can help expose a fake identity.
The Guardian has also advised individuals to establish “safe words” within families and close circles so that requests for money or sensitive information can be quickly verified. Banking institutions are also stressing stronger safeguards. HDFC Bank, in a recent awareness drive, urged customers to rely on multi-factor authentication methods — such as authenticator apps or hardware keys — rather than depending solely on biometrics, which can be cloned.
Steps for Personal Protection
Cybersecurity experts recommend combining digital caution with smart safeguards. Making social media accounts private, avoiding the upload of high-quality personal videos, and keeping track of unusual banking activity are simple yet effective strategies. New AI-powered detection tools such as Deepware Scanner, Sensity AI, and Vastav AI are also being used by organizations and individuals to analyze suspicious audio and video clips.
The Next Chapter in the Deepfake War
Governments and technology companies are beginning to act. New authentication technologies such as WaveVerify, which embed watermarks into audio and video for authenticity, are under development. According to a study published on arXiv , deepfake-related scams rose by 1,300% in 2024, pushing regulators in the U.S., Europe, and India to draft new rules mandating AI transparency and accountability.
Deepfakes are no longer a futuristic threat — they are here, eroding trust and emptying bank accounts. Yet experts agree that awareness and vigilance are still the most powerful defense. In a world where even your own voice can be stolen, skepticism and verification may be the strongest tools to stay safe.
