Document-based identity fraud has been experienced by 58% of organizations
Deepfake fraud was examined in a recent Regula report. The data from the survey indicates a notable increase in the occurrence of video deepfakes, with a 20% rise in companies reporting incidents compared to 2022. While 29% of fraud decision-makers in various countries reported encountering video deepfake fraud in 2022, the data from this year now includes USA, UAE, Mexico, Singapore, and Germany, showing that this figure has increased to 49%. This significant rise in the revised sample highlights the growing challenge of video deepfakes and their ongoing threat to businesses.
Audio deepfakes are also on the rise, showing a 12% increase compared to the 2022 survey data. The survey also reveals differences in industrial and regional experiences with deepfake threats. For instance, audio deepfakes are more prevalent than video ones in the Financial Services (51%), Aviation (52%), and Crypto (55%) sectors. Meanwhile, Law Enforcement (56%), Technology (57%), and FinTech (57%) are reporting more instances of video scams.
The UAE and Singapore are shown to be more susceptible to deepfake fraud, with 56% of businesses in the UAE experiencing video deepfakes and 56% encountering audio deepfakes in Singapore, both above the global average. In contrast, Mexico has reported the lowest impact, with only 35% and 38% of businesses encountering video and audio deepfakes, respectively.
While video deepfakes have seen the largest increase over the two-year period (+20%), all other forms of identity-related fraud have also increased, with some more common than AI-generated scams. The report indicates that 58% of businesses globally have faced identity fraud in the form of fake or altered documents. This method is most prevalent in Mexico (70%), the UAE (66%), the US (59%), and Germany (59%). This suggests that businesses not only need to adjust their verification methods to address new threats but also need to address old threats that continue to present significant challenges.
