The rise of deepfake attacks has become a pressing concern as technology advances. 

About 26% of smaller enterprises and 38% of larger corporations have been targeted by deepfake fraud schemes in the past year, resulting in financial losses of up to $480,000. This alarming trend drums in the need for organizations to be cautious and prepared to protect themselves against these sophisticated attacks. 

This article discusses steps you can take to protect your organization from deepfake attacks.

What are Deepfake Attacks?

Deepfake attacks are a form of cyberattack that utilizes artificial intelligence (AI) and machine language to create highly convincing and sophisticated fake media. 

This can be in the form of videos, audio recordings, images, and even text. The primary objective of these attacks is to manipulate and deceive individuals, often for financial gain, reputation damage, or other malicious purposes. A notable example is the deepfake video of Mark Zuckerberg which demonstrates the potential of this technology.

Risks and Consequences

Research from the University of Chicago revealed that AI-generated deepfake voices can deceive popular voice recognition systems. If deepfake technology falls into the wrong hands, it can lead to:

• Financial Fraud: Deepfakes can impersonate executives, clients, or vendors, resulting in financial losses.
• Reputation Damage: Deepfakes can create convincing but false information, damaging an organization's reputation and manipulating public opinion.
• Loss of Trust: The increase in deepfakes can cause lack of trust in an organization's media, communications, and leadership, leading to lost customer confidence, market value, and business partnerships.
• Intellectual Property Theft: Deepfakes can steal sensitive information, trade secrets, and intellectual property, compromising an organization's competitive advantage and innovation.
• Legal and Regulatory Risks: Organizations may face legal and regulatory action for failing to prevent or respond to deepfake attacks, resulting in fines, penalties, and legal consequences.

Steps to Protect Your Organization

Below are practical steps you can take to secure your organization.

Step 1: Educate your employees: 

Deepfakes are fast gaining prominence and are not widely known yet. Your employees might not be conversant with it so it is best to raise awareness by educating them. For cyber training, contact us at Cyberkach.

Step 2: Implement Risk-Reducing Processes

After educating your employees, establish processes to minimize deep fake risks. One effective method is the "maker-checker" process, where any critical action requires two people: one to initiate (maker) and another to verify (checker). This dual control system ensures that even if a deep fake deceives one person, it cannot complete a fraudulent action without secondary approval, adding a strong layer of protection.

Step 3: Enforce Segregation of Duties

Strengthen your defenses by enforcing Segregation of Duties (SoD). This practice divides critical tasks among different individuals, ensuring no single person has control over an entire process. By separating responsibilities, even if a deep fake influences one employee, it’s nearly impossible to compromise the entire system, reducing the risk of fraud and enhancing organizational transparency.

Step 4: Enhance Identity Verification and Validation: 

Boost security by fortifying login credentials and authentication methods. Embrace the "least privilege" principle, granting users access only to necessary accounts for their roles, and adopt a Zero Trust security design to limit breach likelihood. Even with familiar faces or voices, use secondary channels for confirmation. For instance, when receiving unusual payment requests, follow a clear exceptions process that requires verification - even if the request comes from top executives.

Step 5: Include Deepfakes in Your Response Plan:

Make your incident response plan contain deepfakes in its contingency plans to help prepare for swift action. Respond quickly to correct misinformation with clear, concise messaging through trusted channels. Have a comprehensive plan, including pre-approved response templates, to address concerns from the media, employees, and stakeholders.

Step 6: Use Detection Tech

To stay one step ahead of deepfake fraudsters, consider investing in detection tools. These advanced solutions can scan media for telltale signs of manipulation, helping you catch deepfakes before they wreak havoc. An example of a detection tool is Microsoft Video Authenticator. 

Step 7: Regular Review

Don't let your guard down! Regularly monitor your organization's communications and media for any suspicious activity. Schedule periodic reviews of your security policies and procedures to ensure they're still effective against the latest threats. Think of it like a routine security check-up – it will help you stay on top of things and prevent any potential deepfake disasters!

Final Thoughts 

Deepfake attacks are real with potentially grave consequences for all organizations regardless of size. Educating employees, enhancing identity verification, and including deepfakes in incident response plans will help reduce the chances of your organization falling victim. 

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