Generative AI Scams on the Rise: What Does the Future Hold?
Picture this: You get a call from your CEO, urgently requesting a transfer of funds. Everything sounds legit—it’s their voice, their tone. But it’s not them. It’s a scammer using deepfake technology, and you’re caught in their web. Scary, right??
On the other hand, it could be a fraudster completely generating realist images or IDs of a high-networth individual and using them to bypass KYC checks and access their accounts. These scenarios are becoming all too common across Africa.
Over the past year, the availability of user-friendly deepfake applications has skyrocketed. These tools, often available for free or at a low cost, enable criminals with minimal technical expertise to create convincing fake content.
Cybercriminals are increasingly using deepfakes to impersonate CEOs and other high-ranking officials in "CEO fraud" schemes. In one notable case, Fraudsters used AI to impersonate African Union Chief Moussa Faki, faked his voice and placed several video calls to European capitals, ostensibly seeking to arrange meetings.?
The African Union Commission revealed that the cybercriminals used fake email addresses to impersonate the organisation’s deputy chief of staff. These criminals arranged calls between foreign leaders and the AU Commission Chairperson, Mr. Moussa Faki. Spokesperson Ebba Kalondo confirmed that the pranksters conducted video calls with several European leaders using deepfake technology to mimic Mr. Faki.
Imagine how much easier that would be with the level of advancement deep fake technology has experienced within the last 1 year.
We’re All in Trouble, What Next??
We disuss it and more in our new biweekly Newsletter Identity Illustrated: A Newsletter by Smile ID enabling businesses in Africa and their executives to understand Africa’s complex ID, regulatory and fraud landscape one illustration at a time.