"In 2024, a scammer used deepfake audio and video to impersonate Ferrari CEO Benedetto Vigna and attempted to authorize a wire transfer, reportedly tied to an acquisition. Ferrari never confirmed the amount, which rumors placed in the millions of euros. The scheme failed when an executive assistant stopped it by asking a security question only the real CEO could answer. This isn't sci-fi. Deepfakes have jumped from political misinformation to corporate fraud. Ferrari foiled this one - but other companies haven't been so lucky."
"You need less than three minutes of a CEO's public video - and under $15 worth of software - to make a convincing deepfake. With just a short YouTube clip, AI software can recreate a person's face and voice in real time. No studio. No Hollywood budget. Just a laptop and someone ready to use it. In Q1 2025, deepfake fraud cost an estimated $200 million globally, according to Resemble AI's Q1 2025 Deepfake Incident Report."
A 2024 incident involved a scammer using deepfake audio and video to impersonate Ferrari CEO Benedetto Vigna and attempt to authorize a wire transfer tied to a rumored acquisition. The scheme failed when an executive assistant asked a security question only the real CEO could answer. Deepfakes have migrated from political misinformation to corporate fraud and are becoming strategic, scalable and common. Less than three minutes of public video and inexpensive software can produce convincing impersonations. In Q1 2025 deepfake fraud cost an estimated $200 million globally. The primary liability for companies is erosion of trust rather than technical failure.
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