Advancing Very Quickly: Urgent Warning for Aussies Over Rise in Deepfakes
A cybersecurity expert has sounded an alarm for Australians, urging them to exercise greater vigilance as data reveals a surge in deepfake scams targeting consumers and businesses. This development comes as AI technology continues to evolve at an unprecedented pace.
Deepfakes, which are intricately altered images, videos, or audio recordings, utilize AI technology to make it appear as if someone is saying or doing something untrue. This potent technology is being exploited by fraudsters to manipulate and defraud consumers and businesses, posing a significant threat to financial security and trust.
Recent statistics from MasterCard Australasia have underscored the growing risk faced by Australians. The data disclosed that a staggering 36 percent of Australians reported being targeted by deepfake scams in the past year, resulting in losses amounting to tens of millions of dollars. Similarly, 20 percent of Australian businesses encountered deepfake threats during the same period.
Mallika Sathi, Vice President of Security Solutions at MasterCard Australasia, noted that many victims are unaware they are being targeted, indicating the issue is merely the “tip of the iceberg.” Ms. Sathi emphasized that while the technology is advancing rapidly, the focus should be on understanding rather than fear.
“Deepfake technology is advancing very quickly, so it’s absolutely something Australians should be aware of. However, instead of worrying, we should focus on understanding how this technology works and how to protect ourselves against it,” she explained to SkyNews.com.au. “As deepfakes can be utilized in various scams, including video, images, and audio, we encourage Australians to remain informed and vigilant as the threat escalates with the development of AI technology.”
Prominent figures and celebrities often find themselves as easy targets for deepfakes due to the extensive availability of their images and recordings. Scammers exploit their likeness to make the fraudulent content appear more legitimate and compelling to unsuspecting consumers.
Research further shows that older generations feel less confident in recognizing deepfake scams when they encounter one. Approximately one in three Australians expressed uncertainty in detecting such scams, increasing their vulnerability to potential fraud.
As a countermeasure, Mr. Sathi suggests that families establish a codeword system to verify the authenticity of calls or messages alleged to be from family members. Utilizing a predefined codeword can help determine if the communication is genuine.
The burgeoning presence of AI technology has also led to a decline in trust among Australians regarding social media, with 60 percent expressing diminished confidence. Moreover, 47 percent are losing faith in phone calls, and 46 percent in messaging, indicating a growing skepticism towards traditional communication methods.
Australian businesses, facing increased risks, are advised to nurture “digital literacy” among their employees. Alarmingly, less than half of the surveyed companies reported conducting cybersecurity training. Educating staff on scamming techniques such as “phishing emails, malicious links, bogus websites, scam calls, manipulated invoices, and deepfake social posts” is deemed crucial.
“Businesses should encourage their employees to verify the source and check the identity of the sender before proceeding. If in doubt, trust your instincts,” advised Mr. Sathi. With hybrid work becoming more commonplace, it’s imperative that employees use a VPN and complex passwords or phrases. Passwords consisting of three to four words, as opposed to random letters and numbers, are easier to remember yet harder to guess.
In a bid to safeguard Australians, the Albanese government has been proactive in unveiling a scam prevention framework for public consultation. Recently, the government announced a $14.7 million allocation to the Australian Financial Complaints Authority (AFCA), providing a pathway for scam victims to seek compensation.
Under these new measures, banks and social media platforms could be held accountable if they fail to implement adequate protective measures against scams. “Our scams crackdown will cut off the avenues scammers use to target Australians by setting a high bar for what businesses must do to prevent them,” stated Assistant Treasurer and Minister for Financial Services Stephen Jones. “Scam victims will have a clear pathway for redress. We want victims to know the Government has their backs, and we want businesses to understand they have a responsibility to protect Australians from these often devastating scammers.”
Mr. Sathi commended the government’s initiatives but emphasized that individuals must also take proactive steps in safeguarding themselves against scams. “Everyone has a role to play, especially individuals who should stay informed about deepfakes and practice good cybersecurity habits, such as being cautious about sharing personal information online,” he stated. “Businesses can contribute to this effort by providing regular cybersecurity training for their employees, educating about common scam techniques, and promoting a culture of vigilance.”
By staying informed, alert, and supportive of each other’s efforts, a safer digital environment can be cultivated for all Australians. As deepfake technology continues to advance, a collaborative effort among individuals, businesses, and government entities is essential in mitigating the risks posed by this technology.
