Deepfake-related losses expected to soar from $12.3 billion in 2023 to $40 billion by 2027, with a 32% compound annual growth rate. Deloitte predicts deepfakes will target banking and financial services.
Deepfake incidents projected to rise by 50% to 60% in 2024, with 140,000-150,000 cases globally this year. The newest generative AI technologies empower fraudsters to create deep fakes at a minimal cost.
Pindrop's Voice Intelligence and Security Report estimates deep fake fraud in contact centers costs $5 billion annually, emphasizing the severe threat to banking and financial sectors. Dark web offers scamming tools from $20 to thousands.
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