Santander has started using deepfakes to warn about the dangers of AI scams, as many people in the UK remain uninformed or confused by this new threat.
Rising AI Deepfake Threat Raises Concerns Among Brits
Recent data shows that more than half of people in the UK are either unfamiliar with the term “Deepfake” or can't really figure what it stands for, with only 17% confident of their ability to recognize a deepfake video.
More than half (54%) of Brits are concerned about deepfakes being used in fraudulent acts, with 51% fearing that a member of their family could become a victim as generative AI continues to improve, reports the Birmingham Live.
Santander Highlights Rising Deepfake Threat with AI Fraud Demonstration
The rise of more realistic deepfake videos has significantly amplified concerns about their use in scamming. As a result, Chris Ainsley and ‘finfluencer’ Mr Money Jar intentionally used the AI generated deepfakes in an initiative to demonstrate the growing threat of AI-driven Santander fraud.
The mainstream bank did not hesitate to use this synthetic media to prove how realistic deepfakes can be, and how people in the UK should protect themselves at all costs.
Chris Ainsley, Head of Fraud Risk Management at Santander stated: “Generative AI is developing at breakneck speed, and we know it’s ‘when’ rather than ‘if’ we start to see an influx of scams with deepfakes lurking behind them.
“We already know fraudsters flood social media with fake investment opportunities and bogus love interests, and unfortunately, it’s highly likely that deepfakes will begin to be used to create even more convincing scams of these types.
“More than ever, be on your guard and just because something might appear legitimate at first sight – doesn't mean it is. Look out for those telltale signs and if something – or someone – appears too good to be true, it’s probably just that”.
Online financial influencer Timi Merriman-Johnson (@mrmoneyjar) remarked: “The rate at which generative AI is developing is equal parts fascinating and terrifying. It is already very difficult to spot the difference between deepfake videos and ‘real’ ones, and this technology will only get better from this point forward.
“This is why it’s very important for users to be aware of the ways in which fraudsters use technology like this to scam people.”