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KYC
Artificial Intelligence Cryptourrency Cyber Security CyberCrime CyberThreat Cyberthreats Deepfakes KYC

AI Deepfakes Pose New Threats to Cryptocurrency KYC Compliance

 


ProKYC is a recently revealed artificial intelligence (AI)-powered deep fake tool that nefarious actors can use to circumvent high-level Know Your Customer (KYC) protocols on cryptocurrency exchanges, presenting as a very sophisticated method to circumvent high-level KYC protocols. A recent report from cybersecurity firm Cato Networks refers to this development as an indication that cybercriminals have stepped up their tactics to get ahead of law enforcement. 

It has been common practice for identity fraud to involve people buying forged documents on the dark web to commit the crime. There is a difference in approach, however, between ProKYC and another company. Fraudsters can use the tool in order to create entirely new identities, which they can use for fraud purposes. Cato Networks report that the AI tool is aimed at targeting crypto exchanges and financial institutions with the special purpose of exploiting them. 

When a new user registers with one of these organizations, they use technology to verify that he is who he claims to be. During this process, a government-issued identification document, such as a passport or driver's license, must be uploaded and matched with a live webcam image that is displayed on the screen. A design in ProKYC maximizes the ability of customers to bypass these checks by generating a fake identity, as well as a deepfakes video. Thereby, criminals are able to circumvent the facial recognition software, allowing them to commit fraud. 

As noted in the press release from Cato Networks, this method introduces a new level of sophistication to the crypto fraud industry. A Cato Networks report published on Oct. 9 reported that Etay Maor, the company's chief security strategist, believes that the new tool represents a significant step forward in terms of what cybercriminals are doing to get around two-factor authentication and KYC mechanisms. 

In the past, fraudsters were forced to buy counterfeit identification documents on the dark web, but with AI-based tools, they can create brand-new ID documents from scratch. This new tool was developed by Cato specifically for crypto exchanges and financial firms whose KYC protocols require matching photos of a new user's face to their government-issued identification documents, such as a passport or a driver's license taken from the webcam of their computers.  

Using the tool of ProKYC, we have been able to generate fake ID documents, as well as accompanying deepfake videos, in order to pass the facial recognition challenges used by some of the largest crypto exchanges around the world. The user creates an artificially intelligent generated face, and then adds that AI-generated profile picture to a template of a passport that is based on an Australian passport. 

The next step is the ProKYC tool, which uses artificial intelligence (AI) to create a fake video and image of the artificially generated person, which is used to bypass the KYC protocols on the Dubai-based crypto exchange Bybit, which is not in compliance with the Eurozone.  It has been reported recently by the cybersecurity company Cato Networks that a deepfake AI tool that can create fake fake accounts is being used by exchanges to evade KYC checks that are being conducted. 

There is a tool called ProKYC that can be downloaded for the price of 629 dollars a year and used by fraudsters to create fake identification documents and generate videos that look almost real. This package includes a camera, a virtual emulator, facial animations, fingerprints, and an image generation program that generates the documents that need to be verified. A recent report highlights the emergence of an advanced AI deepfake tool, custom-built to exploit financial companies’ KYC protocols. 

This tool, designed to circumvent biometric face checks and document cross-verification, has raised concerns by breaching security measures that were previously impenetrable, even by the most sophisticated AI systems. The deepfake, created with a tool known as ProKYC, was showcased in a blog post by Cato Networks. It demonstrates how AI can generate counterfeit ID documents capable of bypassing KYC verification at exchanges like Bybit. 

In one instance, the system accepted a fictitious name, a fraudulent document, and an artificially generated video, allowing the user to complete the platform’s verification process seamlessly. Despite the severity of this challenge, Cato Networks notes that certain methods can still detect these AI-generated identities. 

Techniques such as having human analysts scrutinize unusually high-quality images and videos or identifying inconsistencies in facial movements and image quality are potential safeguards. Legal Ramifications of Identity Fraud The legal consequences of identity fraud, particularly in the United States, are stringent. Penalties can reach up to 15 years in prison, along with substantial fines, depending on the crime's scope and gravity. With the rise of AI tools like ProKYC, combating identity fraud is becoming more difficult for law enforcement, raising the stakes for financial institutions. Rising Activity Among Scammers 

In addition to these developments, September saw a marked increase in deepfake AI activity among crypto scammers. Gen Digital, the parent company of Norton, Avast, and Avira, reported a spike in the use of deepfake videos to deceive investors into fraudulent cryptocurrency schemes. This uptick underscores the need for stronger security measures and regulatory oversight to protect the growing number of investors in the crypto sector. 

The advent of AI-powered tools such as ProKYC marks a new era in cyber fraud, particularly within the cryptocurrency industry. As cybercriminals increasingly leverage advanced technology to evade KYC protocols, financial institutions and exchanges must remain vigilant and proactive. Collaboration among cybersecurity firms, regulatory agencies, and technology developers will be critical to staying ahead of this evolving threat and ensuring robust defenses against identity fraud.
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Voice Cloning
Artificial Intelligence Cyber Attacks CyberCrime Cybersecurity CyberThreat Deepfakes Voice Cloning

Voice Cloning and Deepfake Threats Escalate AI Scams Across India

 


The rapid advancement of AI technology in the past few years has brought about several benefits for society, but these advances have also led to sophisticated cyber threats. India is experiencing explosive growth in digital adoption, making it one of the most sought-after targets for a surge in artificial intelligence-based scams. This is an alarming reality of today's cybercriminals who are exploiting these emerging technologies in alarming ways to exploit the trust of unsuspecting individuals through voice cloning schemes, the manipulation of public figures' identities and deepfakes. 

There is an increasing problem with scammers finding new ways to deceive the public as AI capabilities become more refined, making it increasingly difficult to tell between genuine and manipulated content as the abilities of AI become more refined. In terms of cyber security expertise and everyday users, the line between reality and digital fabrication is becoming blurred, presenting a serious challenge to both professionals and those who work in the field. 

Among the many high-profile case studies involving voice cloning in the country and the use of deep-fake technology, the severity of these threats and the number of people who have fallen victim to sophisticated methods of deception have led to a rise in these criminal activities in India. It is believed that the recent trend in AI-driven fraud shows that more security measures and public awareness are urgently needed to combat AI-driven fraud to prevent it from spreading.

The scam occurred last year when a scammer swindled a 73-year-old retired government employee in Kozhikode, Kerala, out of 40,000 rupees by using an AI-generated deepfake video that a deep learning algorithm had generated. He created the illusion of an emergency that led to his loss by blending voice manipulation with video manipulation. It is important to realize that the problem runs much deeper than that. 

In Delhi, cybercrime groups have used voice cloning to swindle 50,000 rupees from Lakshmi Chand Chawla, an elderly lady from Yamuna Vihar, by using the practice of voice cloning. It was on October 24 that Chawla received a WhatsApp message saying that his cousin's son had been kidnapped by thugs. This was made believable by recording a voice record of the child who was cloned using artificial intelligence, crying for help to convince the jury. 

The panicked Chawla transferred 20,000 rupees through Paytm to withdraw the funds. It was not until he contacted his cousin, that he realized that the child was never in danger, even though he thought so at first. It is clear from all of these cases that scammers are exploiting AI to gain people's trust in their business. Scammers are no longer anonymous voices, they sound like friends or family members who are in crisis right now.

The McAfee company has released the 'Celebrity Hacker Hot List 2024', which shows which Indian celebrities have name searches that generate the highest level of "risky" searches on the Internet. In this year's results, it was evident that the more viral an individual is, the more appealing their names are to cybercriminals, who are seeking to exploit their fame by creating malicious sites and scams based on their names. These scams have affected many people, leading to big data breaches, financial losses, and the theft of sensitive personal information.  

There is no doubt that Orhan Awatramani, also known as Orry, is on top of the list for India. He has gained a great deal of popularity fast, and in addition to being associated with other high-profile celebrities, he has also gotten a great deal of attention in the media, making him an attractive target for cybercriminals. Especially in this context, it illustrates how cybercriminals can utilize the increase in unverified information about public figures who are new or are upcoming to lure consumers in search of the latest information. 

It has been reported that Diljit Dosanjh, an actor and singer, is being targeted by fraudsters in connection with his upcoming 'Dil-Luminati' concert tour, which is set to begin next month. This is unfortunately not an uncommon occurrence that happens due to overabundant fan interest and a surge in search volume at large-scale events like these, which often leads to fraudulent ticketing websites, discount schemes, resale schemes, and phishing scams.  

As generative artificial intelligence has gained traction, as well as deepfakes, the cybersecurity landscape has become even more complex. Several celebrities are being misled, and this is affecting their careers. Throughout the year, Alia Bhatt has been subject to several incidents that are related to deep fakes, while actors Ranveer Singh and Aamir Khan have falsely been portraying themselves as endorsing political parties in the course of election-related deep fakes. It has been discovered that prominent celebrities such as Virat Kohli and Shahrukh Khan have appeared in deepfake content designed to promote betting apps. 

It is known that scammers are utilizing tactics such as malicious URLs, deceptive messages, and artificially intelligent image, audio, and video scams to take advantage of fans' curiosity. This leads to financial losses as well as damaging the reputation of the impacted celebrities and damaging customer confidence.   There is a disturbing shift in how fraud is being handled (AI-Generated Representative Image) that is alarming (PIQuarterly News) As alarming as voice cloning scams may seem, the danger doesn't end there, as there are many dangers in front of us.

Increasingly, deepfake technology is pushing the boundaries to even greater heights, blending reality with electronic manipulation at an ever-increasing pace, resulting in increasingly difficult detection methods. In recent years, the same technology has been advancing into real-time video deception, starting with voice cloning. Facecam.ai is one of the most striking examples of this technology, which enables users to create deepfake videos that they can live-stream using just one image while users do so. It caused a lot of buzz, highlighting the ability to convincingly mimic a person's face in real time, and showcasing how easily it can be done.

Uploading a photo allowed users to seamlessly swap faces in the video stream without downloading anything. Despite its popularity, the tool had to be shut down after a backlash over its potential usefulness had been raised. It is important to note that this does not mean that the problem has been resolved. The rise of artificial intelligence has led to the proliferation of numerous platforms that offer sophisticated capabilities for creating deepfake videos and manipulating identities, posing serious risks to digital security. 

Although some platforms like Facecam. Ai—which gained popularity for allowing users to create live-streaming deep fake videos using deep fake images—has been taken down due to concerns over misuse, other tools continue to operate with dangerous potential. Notably, platforms like Deep-Live-Cam are still thriving, enabling individuals to swap faces during live video calls. This technology allows users to impersonate anyone, whether it be a celebrity, a politician, or even a friend or family member. What is particularly alarming is the growing accessibility of these tools. As deepfake technology becomes more user-friendly, even those with minimal technical skills can produce convincing digital forgeries. 

The ease with which such content can be created heightens the potential for abuse, turning what might seem like harmless fun into tools for fraud, manipulation, and reputational harm. The dangers posed by these tools extend far beyond simple pranks. As the availability of deepfake technology spreads, the opportunities for its misuse expand exponentially. Fraudulent activities, including impersonation in financial transactions or identity theft, are just a few examples of the potential harm. Manipulation of public opinion, personal relationships, or professional reputations is also at risk, especially as these tools become more widespread and increasingly difficult to regulate. 

The global implications of these scams are already being felt. In one high-profile case, scammers in Hong Kong used a deepfake video to impersonate the Chief Financial Officer of a company, leading to a financial loss of more than $25 million. This case underscores the magnitude of the problem: with the rise of such advanced technology, virtually anyone—not just high-profile individuals—can become a victim of deepfake-related fraud. As artificial intelligence continues to blur the lines between real and fake, society is entering a new era where deception is not only easier to execute but also harder to detect. 

The consequences of this shift are profound, as it fundamentally challenges trust in digital interactions and the authenticity of online communications. To address this growing threat, experts are discussing potential solutions such as Personhood Credentials—a system designed to verify and authenticate that the individual behind a digital interaction is, indeed, a real person. One of the most vocal proponents of this idea is Srikanth Nadhamuni, the Chief Technology Officer of Aadhaar, India's biometric-based identity system.

Nadhamuni co-authored a paper in August 2024 titled "Personhood Credentials: Artificial Intelligence and the Value of Privacy-Preserving Tools to Distinguish Who is Real Online." In this paper, he argues that as deepfakes and voice cloning become increasingly prevalent, tools like Aadhaar, which relies on biometric verification, could play a critical role in ensuring the authenticity of digital interactions.Nadhamuni believes that implementing personhood credentials can help safeguard online privacy and prevent AI-generated scams from deceiving people. In a world where artificial intelligence is being weaponized for fraud, systems rooted in biometric verification offer a promising approach to distinguishing real individuals from digital impersonators.
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UK Firm
Cyber Fraud Deepfakes Engineering Giant Threat Landscape UK Firm

Engineering Giant Arup Falls Victim to £20m Deepfake Video Scam

 

The 78-year-old London-based architecture and design company Arup has a lot of accolades. With more than 18,000 employees spread over 34 offices worldwide, its accomplishments include designing the renowned Sydney Opera House and Manchester's Etihad Stadium. Currently, it is engaged in building the La Sagrada Familia construction in Spain. It is now the most recent victim of a deepfake scam that has cost millions of dollars. 

Earlier this year, CNN Business reported that an employee at Arup's Hong Kong office was duped into a video chat with deepfakes of the company's CFO and other employees. After dismissing his initial reservations, the employee eventually sent $25.6 million (200 million Hong Kong dollars) to the scammers over 15 transactions.

He later realised he had been duped after checking with the design company's U.K. headquarters. The ordeal lasted a week, from when the employee was notified to when the company started looking into the matter. 

“We can confirm that fake voices and images were used,” a spokesperson at Arup told a local media outlet. “Our financial stability and business operations were not affected and none of our internal systems were compromised.” 

Seeing is no longer the same as believing 

The list of recent high-profile targets involving fake images, videos, or audio recordings intended to defame persons has risen with Arup's deepfake encounter. Fraudsters are targeting everyone in their path, whether it's well-known people like Drake and Taylor Swift, companies like the advertising agency WPP, or a regular school principal. An official at the cryptocurrency exchange Binance disclosed two years ago that fraudsters had created a "hologram" of him in order to get access to project teams. 

Because of how realistic the deepfakes appear, they have been successful in defrauding innocent victims. Deepfakes, such as the well-known one mimicking Pope Francis, can go viral and become difficult to manage disinformation when shared on the internet. The latter is particularly troubling since it has the potential to sway voters during a period when several countries are holding elections. 

Attempts to defraud businesses have increased dramatically, with everything from phishing schemes to WhatsApp voice cloning, Arup's chief information officer Rob Greig told Fortune. “This is an industry, business and social issue, and I hope our experience can help raise awareness of the increasing sophistication and evolving techniques of bad actors,” he stated. 

Deepfakes are getting more sophisticated, just like other tech tools. That means firms must stay up to date on the latest threat and novel ways to deal with them. Although deepfakes might appear incredibly realistic, there are ways to detect them. 

The most effective approach is to simply ask a person on a video conference to turn—if the camera struggles to get the whole of their profile or the face becomes deformed it's probably worth investigating. Sometimes asking someone to use a different light source or pick up a pencil can assist expose deepfakes.
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Technology
AI Biometrics Deepfakes Gartner Technology

Can Face Biometrics Prevent AI-Generated Deepfakes?


AI-Generated deep fakes on the rise

A serious threat to the reliability of identity verification and authentication systems is the emergence of AI-generated deepfakes that attack face biometric systems. The prediction by Gartner, Inc. that by 2026, 30% of businesses will doubt these technologies' dependability emphasizes how urgently this new threat needs to be addressed.

Deepfakes, or synthetic images that accurately imitate genuine human faces, are becoming more and more powerful tools in the toolbox of cybercriminals as artificial intelligence develops. These entities circumvent security mechanisms by taking advantage of the static nature of physical attributes like fingerprints, facial shapes, and eye sizes that are employed for authentication. 

Moreover, the capacity of deepfakes to accurately mimic human speech introduces an additional level of intricacy to the security problem, potentially evading voice recognition software. This changing environment draws attention to a serious flaw in biometric security technology and emphasizes the necessity for enterprises to reassess the effectiveness of their present security measures.

According to Gartner researcher Akif Khan, significant progress in AI technology over the past ten years has made it possible to create artificial faces that closely mimic genuine ones. Because these deep fakes mimic the facial features of real individuals, they open up new possibilities for cyberattacks and can go beyond biometric verification systems.

As Khan demonstrates, these developments have significant ramifications. When organizations are unable to determine whether the person trying access is authentic or just a highly skilled deepfake representation, they may rapidly begin to doubt the integrity of their identity verification procedures. The security protocols that many rely on are seriously in danger from this ambiguity.

Deepfakes introduce complex challenges to biometric security measures by exploiting static data—unchanging physical characteristics such as eye size, face shape, or fingerprints—that authentication devices use to recognize individuals. The static nature of these attributes makes them vulnerable to replication by deepfakes, allowing unauthorized access to sensitive systems and data.

Deepfakes and challenges

Additionally, the technology underpinning deepfakes has evolved to replicate human voices with remarkable accuracy. By dissecting audio recordings of speech into smaller fragments, AI systems can recreate a person’s vocal characteristics, enabling deepfakes to convincingly mimic someone’s voice for use in scripted or impromptu dialogue.

By taking advantage of static data—unchanging physical traits like eye size, face shape, or fingerprints—that authentication devices use to identify people, deepfakes pose sophisticated threats to biometric security systems. Because these qualities are static, deepfakes can replicate them and gain unauthorized access to confidential information and systems.

Furthermore, the technology underlying deepfakes has advanced to remarkably accurately mimic human voices. Artificial intelligence (AI) systems can accurately replicate a person's voice by breaking down speech recordings into smaller segments. This allows deepfakes to realistically imitate a person's voice for usage in pre-recorded or spontaneous dialogue.

MFA and PAD

By taking advantage of static data—unchanging physical traits like eye size, face shape, or fingerprints—that authentication devices use to identify people, deepfakes pose sophisticated threats to biometric security systems. Because these qualities are static, deepfakes can replicate them and gain unauthorized access to confidential information and systems.

Furthermore, the technology underlying deepfakes has advanced to remarkably accurately mimic human voices. Artificial intelligence (AI) systems can accurately replicate a person's voice by breaking down speech recordings into smaller segments. This allows deepfakes to realistically imitate a person's voice for usage in pre-recorded or spontaneous dialogue.

Deepfakes are sophisticated threats to biometric security systems because they use static data, which is unchangeable physical attributes like eye size, face shape, or fingerprints that authentication devices use to identify persons. 

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Payment Scams
Cyber Attacks Deepfakes Payment Fraud Payment Scams

Payment Frauds on Rise: Organizations Suffering the Most

Payment Fraud

Payment Fraud: A Growing Threat to Organizations

In today’s digital landscape, organizations face an ever-increasing risk of falling victim to payment fraud. Cybercriminals are becoming more sophisticated, employing a variety of tactics to deceive companies and siphon off funds. Let’s delve into the challenges posed by payment fraud and explore strategies to safeguard against it.

The Alarming Statistics

According to a recent report by Trustpair, 96% of US companies encountered at least one fraud attempt in the past year. This staggering figure highlights the pervasive nature of the threat. But what forms do these attacks take?

Text Message Scams (50%): Fraudsters exploit SMS communication to trick employees into divulging sensitive information or transferring funds.

Fake Websites (48%): Bogus websites mimic legitimate ones, luring unsuspecting victims to share confidential data.

Social Media Deception (37%): Cybercriminals use social platforms to impersonate employees or manipulate them into making unauthorized transactions.

Hacking (31%): Breaches compromise systems, granting fraudsters access to financial data.

Business Email Compromise Scams (31%): Sophisticated email fraud targets finance departments, often involving CEO or CFO impersonations.

Deepfakes (11%): Artificially generated audio or video clips can deceive employees into taking fraudulent actions.

The Financial Toll

The consequences of successful fraud attacks are severe:

  • 36% of companies reported losses exceeding $1 million.
  • 25% experienced losses surpassing $5 million.

These financial hits not only impact the bottom line but also erode trust and credibility. C-level finance and treasury leaders recognize this, with 75% stating that they would sever ties with an organization that suffered payment fraud and lost their funds.

The Role of Automation

As organizations grapple with this menace, automation emerges as a critical tool. Here’s how it can help:

  • Vendor Database Maintenance: Regularly cleaning and monitoring vendor databases is essential. Only 16% of companies currently do this consistently.
  • Information Verification: 28% of companies verify details about the companies they work with. Ensuring accurate information is crucial.
  • Automated Account Validation: 34% of companies now use tools to validate vendors, a significant increase from the previous year’s 17%.

Mitigating the Risk

To protect against payment fraud, organizations should consider the following steps:

Education and Awareness: Train employees to recognize common fraud tactics and encourage vigilance.

Multi-Factor Authentication (MFA): Implement MFA for financial transactions to add an extra layer of security.

Regular Audits: Conduct periodic audits of financial processes and systems.

Collaboration: Foster collaboration between finance, IT, and security teams to stay ahead of emerging threats.

Real-Time Monitoring: Use advanced tools to monitor transactions and detect anomalies promptly.

Payment fraud is no longer a distant concern—it’s hitting organizations harder than ever before. By investing in robust safeguards, staying informed, and leveraging automation, companies can stay safe.

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Technology
AI image generation breakthrough Deepfakes identity preservation InstantID LoRA realistic content SEO-friendly Technology

AI Image Generation Breakthrough Predicted to Trigger Surge in Deepfakes

 

A recent publication by the InstantX team in Beijing introduces a novel AI image generation method named InstantID. This technology boasts the capability to swiftly identify individuals and generate new images based on a single reference image. 

Despite being hailed as a "new state-of-the-art" by Reuven Cohen, an enterprise AI consultant, concerns arise regarding its potential misuse for creating deepfake content, including audio, images, and videos, especially as the 2024 election approaches.

Cohen highlights the downside of InstantID, emphasizing its ease of use and ability to produce convincing deepfakes without the need for extensive training or fine-tuning. According to him, the tool's efficiency in generating identity-preserving content could lead to a surge in highly realistic deepfakes, requiring minimal GPU and CPU resources.

In comparison to the prevalent LoRA models, InstantID surpasses them in identifiable AI image generation. Cohen, in a LinkedIn post, bids farewell to LoRA, dubbing InstantID as "deep fakes on steroids." 

The team's paper, titled "InstantID: Zero-shot Identity-Preserving Generation in Seconds," asserts that InstantID outperforms techniques like LoRA by offering a 'plug and play module' capable of handling image personalization with just a single facial reference image, ensuring high fidelity without the drawbacks of storage demands and lengthy fine-tuning processes.

Cohen elucidates that InstantID specializes in zero-shot identity-preserving generation, distinguishing itself from LoRA and its extension QLoRA. While LoRA and QLoRA focus on fine-tuning models, InstantID prioritizes generating outputs that maintain the identity characteristics of the input data efficiently and rapidly.

The simplicity of creating AI deepfakes is underscored by InstantID's primary functionality, which centers on preserving identity aspects in the generated content. Cohen warns that the tool makes it exceedingly easy to engineer deepfakes, requiring only a single click to deploy on platforms like Hugging Face or replicate.
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State for Information Technology
AI generated Deepfake Cyber Security Deepfakes Information Technology IT Ministry IT regulation Misinformation Sachin Tendulkar State for Information Technology

As Deepfake of Sachin Tendulkar Surface, India’s IT Minister Promises Tighter Rules


On Monday, Indian minister of State for Information Technology Rajeev Chandrasekhar confirmed that the government will notify robust rules under the Information Technology Act in order to ensure compliance by platform in the country. 

Union Minister, on X, expressed gratitude to cricketer Sachin Tendulkar for pointing out the video. Tendulkar, in X, for pointing out the video, said that AI-generated deepfakes and misinformation are a threat to safety and trust of Indian users. He notes that platforms must comply with advisory issued by the Centre. 

"Thank you @sachin_rt for this tweet #DeepFakes and misinformation powered by #AI are a threat to Safety&Trust of Indian users and represents harm & legal violation that platforms have to prevent and take down. Recent Advisory by @GoI_MeitY requires platforms to comply wth this 100%. We will be shortly notifying tighter rules under IT Act to ensure compliance by platforms," Chandrasekhar posted on X

On X, Sachin Tendulkar was seen cautioning his fans and the public that aforementioned video was fake. Further, he asked viewers to report any such applications, videos and advertisements. 

"These videos are fake. It is disturbing to see rampant misuse of technology. Request everyone to report videos, ads & apps like these in large numbers. Social media platforms need to be alert and responsive to complaints. Swift action from their end is crucial to stopping the spread of misinformation and fake news. @GoI_MeitY, @Rajeev_GoI and @MahaCyber1," Tendulkar said on X.

Deepfakes are artificial media that have undergone digital manipulation to effectively swap out one person's likeness for another. The alteration of facial features using deep generative techniques is known as a "deepfake." While the practice of fabricating information is not new, deepfakes use sophisticated AI and machine learning algorithms to edit or create visual and auditory content that is easier to trick.

Last month, the government urged all online platforms to abide by the IT rules and mandated companies to notify users about forbidden content transparently and accurately.

The Centre has asked platforms to take urgent action against deepfakes and ensure that their terms of use and community standards comply with the laws and IT regulations in force. The government has made it abundantly evident that any violation will be taken very seriously and could result in legal actions against the entity.  

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Technology
AI-enabled wearables Artificial Intelligence Deepfakes Election politics Technology

With Deepfakes on Rise, Where is AI Technology Headed?


Where is the Artificial Intelligence Headed?

Two words, 'Artificial' and 'Intelligence', together have been one of the most evident buzzwords that have been driving lives and preparing the world for the real ride ahead, and that of the world economy. 

AI is becoming the omniscient, omnipresent modern-day entity that can solve any problem and find a solution to everything. While some are raising ethical concerns, it is clear that AI is here to stay and will drive the global economy. By 2030, China and the UK expect that 26% and 12% of their GDPs, respectively, will come from AI-related businesses and activities, and by 2035, AI is expected to increase India's annual growth rate by 1.3 percentage points.

AI-powered Deepfakes Bare Fangs in 2023, Raising Concerns About its Influence over Privacy, Election Politics

Deepfakes are artificially generated media that have undergone digital manipulation to effectively swap out one person's likeness for another. The alteration of facial features using deep-generating techniques is known as a "deepfake." While the practice of fabricating information is not new, deepfakes use sophisticated AI and machine learning algorithms to edit or create visual and auditory content that is easier to convince.

According to the ‘2023 State of Deepfakes Report’ by ‘Home Security Heroes’ – a US-based cyber security service firm – deepfake videos have witnessed a 500% rise since 2019. 

Numerous alarming incidents employing deepfake videos were reported in India in 2023. One such occurrence was actor Rashmika Mandanna, whose face was placed on that of a British-Indian social media celebrity.

Revolution in AI is On its Way

With AI being increasingly incorporated in almost every digital device, be it AR glasses, fitness trackers, etc., one might wonder what the future holds with the launch of AI-enabled wearables like Humane’s Pin?

The healthcare industry is predicted to develop at the fastest rate due to rising demand for remote monitoring apps and simpler-to-use systems, as well as applications for illness prevention. The industrial sector is likewise ready for change, as businesses seek to increase safety and productivity through automated hardware and services.

With the rapid growth in the area of artificial intelligence and innovation in technology, and the AI market anticipated to cross $250 Billion by 2023, one might as well want to consider the upcoming challenges it will bring on various capacities on a global level.

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imposter frauds
AI Scams AI technology Artificial Intelligence Cyber Fraud Cyber Scams Deepfakes imposter frauds

How can You Protect Yourself From the Increasing AI Scams?


Recent years have witnessed a revolution in terms of innovative technology, especially in the field of Artificial Intelligence. However, these technological advancement has also opened new portals for cybercrime activities. 

The latest tactic used by threat actors has been deepfakes, where a cybercriminal may exploit the audio and visual media for their use in conducting extortions and other frauds. In some cases, fraudsters have used AI-generated voices to impersonate someone close to the targeted victim, making it impossible to realize they are being defrauded.  

According to ABC13, the most recent instance of this included an 82-year-old Texan called Jerry who fell victim to a scam by a criminal posing as a sergeant with the San Antonio Police Department. The con artist informed the victim that his son-in-law had been placed under arrest and that Jerry would need to provide $9,500 in bond to be released. Furthermore, Jerry was duped into paying an extra $7,500 to finish the entire process. The victim, who lives in an elderly living home, is thinking about getting a job to make up for the money they lost, but the criminals are still at large.  

The aforementioned case is however not the first time where AI has been used for fraud. According to Reuters, a Chinese man was defrauded of more than half a million dollars earlier this year after a cybercriminal fooled him into transferring the money by posing as his friend using an AI face-swapping tool.   

Cybercriminals often go with similar tactics, like sending morphed media of a person close to the victim in an attempt to coerce money under the guise of an emergency. Although impostor frauds are not new, here is a contemporary take on them. The FTC reported in February 2023 that around $2.6 billion was lost by American residents in 2022 as a result of this type of scam. However, the introduction of generative AI has significantly increased the stakes.  

How can You Protect Yourself from AI Scammers? 

A solution besides ignoring calls or texts from suspicious numbers could be – establishing a unique codeword with loved ones. This way, one can distinguish if the person on the other end is actually them. To verify if they really are in a difficult circumstance, one can also attempt to get in touch with them directly. Experts also advise hanging up and giving the individual a call directly, or at least double-checking the information before answering.  

Unfortunately, scammers employ a variety of AI-based attacks in addition to voice cloning. Deepfaked content extortion is a related domain. Recently, there have been multiple attempts by nefarious actors to use graphic pictures generated by artificial intelligence to blackmail people. Numerous examples where deepfakes destroyed the lives of numerous youngsters have been revealed in a report by The Washington Post. In such a case, it is advisable to get in touch with law enforcement right away rather than handling things on one's own.     

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Vulnerabilities and Exploits.
AI Fraud Artificial Intelligence Deepfakes FBI Malicious actor Vulnerabilities and Exploits.

5 Tips to Protect Yourself from Deepfake Crimes

The rise of deepfake technology has ushered in a new era of concern and vulnerability for individuals and organizations alike. Recently, the Federal Bureau of Investigation (FBI) issued a warning regarding the increasing threat of deepfake crimes, urging people to take precautionary measures to protect themselves. To help you navigate this evolving landscape, experts have shared valuable tips to safeguard against the dangers of deepfakes.

Deepfakes are highly realistic manipulated videos or images that use artificial intelligence (AI) algorithms to replace a person's face or alter their appearance. These can be used maliciously to spread disinformation, defame individuals, or perpetrate identity theft and fraud. With the potential to deceive even the most discerning eye, deepfakes pose a significant threat to personal and online security.

Tip 1: Stay Informed and Educated

Keeping yourself informed about the latest advancements in deepfake technology and the potential risks it poses is essential. Stay updated on the techniques used to create deepfakes and the warning signs to look out for. Trusted sources such as the FBI's official website, reputable news outlets, and cybersecurity organizations can provide valuable insights and resources.

Tip 2: Be Vigilant and Verify

When encountering media content, especially if it seems suspicious or controversial, be vigilant and verify its authenticity. Scrutinize the source, cross-reference information from multiple reliable sources, and fact-check before accepting something as true. Additionally, scrutinize the video or image itself for any anomalies, such as inconsistent lighting, unnatural facial movements, or mismatches in lip-syncing.

Tip 3: Strengthen Online Security

Enhancing your online security measures can help protect you from falling victim to deepfake-related crimes. Utilize strong and unique passwords for your accounts, enable two-factor authentication, and regularly update your devices and software. Be cautious when sharing personal information online and be aware of phishing attempts that may exploit deepfake technology.

Tip 4: Foster Digital Literacy and Critical Thinking

Developing digital literacy skills and critical thinking is crucial in navigating the deepfake landscape. Teach yourself and others how to spot deepfakes, understand their implications, and discern between real and manipulated content. By fostering these skills, you can minimize the impact of deepfakes and contribute to a more informed and resilient society.

Tip 5: Report and Collaborate

If you come across a deepfake or suspect malicious use of deepfake technology, report it to the relevant authorities, such as the FBI's Internet Crime Complaint Center (IC3) or local law enforcement agencies. Reporting such incidents is vital in combatting deepfake crimes and preventing further harm. Additionally, collaborate with researchers, technology developers, and policymakers to drive innovation and develop effective countermeasures against deepfakes.

Deepfake crimes are becoming more dangerous, so it's important to take a proactive and informed approach. People can improve their own security and help to reduce the hazards posed by deepfakes by being informed, and alert, bolstering their online security, promoting digital literacy, and reporting occurrences. To keep one step ahead of those who try to use these tools for bad, it is crucial to stay agile and knowledgeable as technology develops.
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Sensitive data
Binance Deepfakes Malicious actor malware Sensitive data

The Threat of Deepfakes: Hacking Humans

Deepfake technology has been around for a few years, but its potential to harm individuals and organizations is becoming increasingly clear. In particular, deepfakes are becoming an increasingly popular tool for hackers and fraudsters looking to manipulate people into giving up sensitive information or making financial transactions.

One recent example of this was the creation of a deepfake video featuring a senior executive from the cryptocurrency exchange Binance. The video was created by fraudsters with the intention of tricking developers into believing they were speaking with the executive and providing them with access to sensitive information. This kind of CEO fraud can be highly effective, as it takes advantage of the trust that people naturally place in authority figures.

While deepfake technology can be used for more benign purposes, such as creating entertaining videos or improving visual effects in movies, its potential for malicious use is undeniable. This is especially true when it comes to social engineering attacks, where hackers use psychological tactics to convince people to take actions that are not in their best interest.

To prevent deepfakes from being used to "hack the humans", it is important to take a multi-layered approach to security. This includes training employees to be aware of the risks of deepfakes and how to identify them, implementing technical controls to detect and block deepfake attacks, and using threat intelligence to stay ahead of new and emerging threats.

At the same time, it is important to recognize that deepfakes are only one of many tools that hackers and fraudsters can use to target individuals and organizations. To stay protected, it is essential to maintain a strong overall security posture, including regular software updates, strong passwords, and access controls.

The most effective defense against deepfakes and other social engineering attacks is to maintain a healthy dose of skepticism and critical thinking. By being aware of the risks and taking steps to protect yourself and your organization, you can help ensure that deepfakes don't "hack the humans" and cause lasting harm.
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VALL-E
AI AI Chatbot Artifical Inteligence ChatGPT Deepfakes Microsoft Technology VALL-E

Microsoft Quietly Revealed a New Kind of AI


In the tangible future, humans will be interfacing their flesh with chips. Therefore, perhaps we should not have been shocked when Microsoft's researchers appeared to have hastened a desperate future. 

It was interestingly innocent and so very scientific. The headline of the researcher’s article read “Neural Codec Language Models are Zero-Shot Text to Speech Synthesizers.” 

What do you think this may possibly mean? Is there a newer, faster method for a machine to record spoken words? 

The abstract by the researchers got off to a good start. It employs several words, expressions, and acronyms that many layman's language models would find unfamiliar. 

It explains why VALL-E is the name of the neural codec language model. This name must be intended to soothe you. What could be terrifying about a technology that resembles the adorable little robot from a sentimental movie? 

Well, this perhaps: "VALL-E emerges in-context learning capabilities and can be used to synthesize high-quality personalized speech with only a 3-second enrolled recording of an unseen speaker as an acoustic prompt." 

The ChatGPT revolution: Microsoft Seems to Have Big Plans for This AI Chatbot 

The researchers often wanted to develop learning capabilities, while they have to settle for just waiting for them to show up. And what emerges from the researchers’ last sentence is quite surprising. 

Microsoft's big brains (AI, for an instance) can now create longer words and maybe lengthy speeches that were not actually said by you but sound remarkably like you with just three seconds of what one is saying. 

Through this, researchers wanted to shed light on how VALL-E utilizes an audio library assembled by Meta, one of the most reputable and recognized businesses in the world. It has a memory of 7,000 people conversing for 60,000 hours and is known as LibriLight. 

Also: Use AI-powered Personalization to Block Unwanted Calls And Texts 

This as well seems another level of sophistication. Taking the example of Peacock’s “The Capture,” in which deepfakes pose as a natural tool for the government. Perhaps, one should not really be worried since Microsoft is such a nice, inoffensive company these days. 

However, the idea that someone, anyone, can easily be conned into believing that a person is saying something he actually did not (perhaps, would never) itself is alarming. Especially when the researchers claim their capabilities to replicate the “emotions and acoustic behavior” of someone’s initial three-second speech as well. 

While this will be comforting when the researchers claim to have spotted this potential for distress. They offer: "Since VALL-E could synthesize speech that maintains speaker identity, it may carry potential risks in misuse of the model, such as spoofing voice identification or impersonating a specific speaker." 

One may as well stress enough to find a solution to these issues. An answer to this, according to the researchers is ‘Building a detection system.’ But this also leaves a few individuals wondering: “Why must we do this, at all?” Well, quite often in technology, the answer remains “Because we can.”  

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Cyber Crime Cyber crimes Cybersecurity Deepfake Phishing Deepfakes phishing

Deepfakes: The Emerging Phishing Technology


Phishing has been a known concept for over a few decades now. Attackers manipulate victims into performing actions like clicking a malicious URL, downloading a malicious attachment, transferring funds, or sharing sensitive data by utilizing human psychology, taking advantage of human nature (such as impulsivity, grievances, and curiosity), by posing as legitimate companies. 

While phishing is most commonly executed via emails, it has now evolved into utilizing voice (vishing), social media, and SMS in order to seem more legitimate to the victims. With deepfakes, phishing is reemerging as the most severe type of cybercrime. 

What are Deepfakes? 

According to Steve Durbin of the Information Security Forum, deepfake technology (or deepfakes) is "a kind of artificial intelligence (AI) capable of generating synthetic voice, video, pictures, and virtual personalities." Users may already be familiar with this via their smartphones, consisting of apps that tend to revive the dead, exchange faces with famous persons, and produce effects that are quite lifelike like de-aging Hollywood celebrities. 

Although deepfakes were apparently introduced for entertainment purposes, threat actors later utilized this technology to execute phishing attacks, identity theft, financial fraud, information manipulation, and political unrest. 

Recently, deepfakes are being created by numerous methods, such as swapping (an individual’s face is superimposed upon another), attribute editing, face re-enactment, or entirely artificial content in which a person’s image is entirely made up. 

One may assume deepfake as a futuristic concept, but a widespread and malicious use of deepfakes is in fact readily available and being used in reality. 

A number of instances of deepfake-enabled phishing have already been reported, such as: 

  • AI voice cloning technology conned a bank manager into initiating wire transfers worth $35 million. 
  • A deepfake video of Elon Musk promoting a crypto scam went viral on social media. 
  • An AI hologram, impersonating a chief operating officer at one of the world’s biggest crypto exchanges on a Zoom call and scammed another exchange into losing all their liquid funds. 
  • A deepfake make headlines, showing former US president Barack Obama speaking about the dangers of false information and fake news. 

How Can an Organization Protect Themselves from Deepfake Phishing? 

Deepfake phishing could be the reason for massive damage to businesses and their employees. Businesses could face harsh penalties and a higher risk of financial fraud. Since deepfake technology is currently widely available, anyone with even the smallest bad intent may synthesize audio and video and carry out a sophisticated phishing assault. 

The following steps must be followed to ensure prevention. 

  • Conduct sessions regarding security awareness, so that the employees could understand their responsibility and accountability pertaining to cybersecurity. 
  • Run phishing simulations to expose employees to deepfake phishing so they may learn how these frauds operate. 
  • Implement technologies such as phishing-resistant multi-factor authentication (MFA) and zero-trust in order to mitigate risks of identity fraud. 
  • Encourage people to report suspicious activities and check the credibility of requests, especially if they involve significant money transactions. 

One could not possibly prevent activities like deepfakes from happening, but the risks can still be mitigated by taking certain measures such as nurturing and developing cybersecurity instincts among employees. This will ultimately reinforce the overall cybersecurity culture of the organization.  

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