How Stealing Millions via Deepfake Video Scams is Possible? -

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“It’s high time now. Cybercrimes are not limited to email hacking; now they include deepfake videos to cheat victims out of money fraudulently.”

Imagine this: George Clooney himself is sending you heartwarming, entertaining, and incredibly convincing video greetings every day. When a woman in Argentina connected with “Clooney” on Facebook, she thought that.

Amused by his warm, realistic films, she spent six weeks interacting with him, thinking he was a Hollywood celebrity. Then one day the pitch arrived: purchase a special card, become a member of a fan club, and have access to rare employment prospects.

She deposited over Rs 11 lakh (roughly) because she trusted the Hollywood legend, only to find out, after contacting the FBI, that she had been tricked by an AI-generated deepfake. The tale of this woman serves as a warning.

Deepfake technology is being used by scammers to pose as executives, celebrities, and even your loved ones, transforming trust into a risky trap. Anyone can become a victim of these frauds, which are booming on social media.

Why are deepfake videos so harmful, and what are they?

Artificial intelligence (AI), machine learning, and face-swapping technology are used to produce deepfakes, which are incredibly lifelike audio or video. Scammers produce convincing fakes that depict people talking or doing things that never happened by fusing real photos, videos, or voice samples.

Dr. Azahar Machwe, AI Expert, Banking & Financial Services Sector

“Deepfakes help cybercriminals build trust, creating a base for fraud like digital arrests or identity theft,” said Dr. Azahar Machwe, an AI expert from the banking and financial services sector.

“They might use a real video with AI-altered audio or create an entirely fake video using just a photo and a voice sample. This is then used to drive the fraud with the deepfake pretending to be a customer, a law enforcement official, or someone in a position of authority.”

Manish Mohta, founder of Learning Spiral AI

“These hyper-realistic videos often impersonate CEOs, relatives, or government officials, tricking victims into sending money or sharing sensitive data.”

Anuj Khurana, CEO of Anaptyss

Anuj Khurana, CEO of Anaptyss, warned of another chilling tactic: “Scammers use deepfakes for KYC fraud, creating fake video IDs to bypass identity checks. Once they gain access, they exploit accounts for money laundering or other crimes. Fake celebrity endorsements for sham investments are also a growing threat.”

According to him, unlike traditional phishing emails with obvious typos or awkward phrasing, deepfakes are nearly indistinguishable from reality.

“Fraudsters exploit deepfakes’ unquestionable authenticity to exploit human trust and spoof security protocols, including facial verification and voice authorization, to commit financial fraud,” said Khurana.

Venky Sadayappan, Cybersecurity Director, Arche

“While phishing emails rely on text-based deception, deepfake videos exploit the brain’s instinctive trust in facial expressions, voice tonality, and body language,” said Venky Sadayappan, cybersecurity director at Arche.

He also said, “Deepfakes are difficult to detect using conventional email filters or cybersecurity tools, as the content often arrives via trusted platforms like Zoom or WhatsApp, creating a dangerous blind spot in traditional security architectures.”

How are these convincing deepfakes made by scammers?

It doesn’t take much for scammers to create a convincing deepfake. They collect the raw resources as follows:

Publicly available content: There are plenty of images and videos available on corporate websites, social media profiles, news clips, and online interviews.
Professional appearances: Executives frequently appear in presentations, webinars, and interviews, giving con artists distinct speech patterns and imagery.
Voice samples: Voices can be imitated using podcasts, meetings that have been recorded, or even brief audio snippets from social media.
Minimal input: With just 5–10 seconds of audio or video, AI can create a deepfake, making nearly anyone a possible target.

Identifying deepfakes: Warning signs to look out for

Before it’s too late, Dr. Machwe provided several indicators to spot a deepfake:

Look closely at tiny facial features: AI finds it challenging to effectively mimic human features like hair strands, ears, lips, and eye movements, particularly during speech.
Watch for blurring: The video may be phony if the face appears smudged or appears to have “melted,” particularly around those delicate features.
Overall video quality: It might be artificial intelligence (AI) if there are abrupt reductions in clarity or if everything seems strangely hazy.
Listen to the voice: AI voices frequently have a somewhat lifeless or flat tone. Furthermore, the lip movements may not precisely match the sound.
Verify the claims: Verify the video’s statements using reputable sources and internet resources.
Trust your gut: If anything seems “off” or simply too good to be true, it most likely is.

Professional advice on digital hygiene:

Tighten your privacy settings: Use stringent privacy settings and make sure that only people you can trust can view what you post.
Think twice before sharing: Before posting crisp, high-quality movies or selfies online, give it some thought. Your face is more easily abused the clearer it is.
Go easy on hyper-realistic filters: Although they might appear enjoyable, they can provide scammers with more resources.
Do a regular clean-up of your online presence: Eliminate outdated images or movies that are no longer necessary.
Turn on two-factor authentication: To increase security, make sure you use two-factor authentication for each of your accounts.
Stay updated: Keep up with the latest scams, and report any instances in which your image or video is being exploited improperly right away.

How should you respond if you become a victim of these deepfakes?

In the event that you become a victim of these movies, Sadayappan and Dr. Machwe suggested the following:

Take a breath, don’t panic: Avoid making fast decisions if you think you may have been the target of a deepfake video.
Start by informing the police: Speak with your local police department to see if they have a cybercrime team that can assist.
Notify key organizations: Inform your employer, bank, or any other pertinent organization, particularly if the video may affect your personal or professional life. The IT or cybersecurity staff at your company can assist with a technical evaluation if you share the footage with them.
Save everything: Save a copy of the video, together with any associated messages and information. The inquiry will benefit from this.
Inform your close circle: For your family and friends to support you and avoid being taken by surprise, keep them informed.
Make a public statement: Post on social media to notify your larger network if you feel comfortable doing so. Sharing the deepfake video with a clear disclaimer that it is a fake can help prevent the spread of false information.
Never give in to blackmail: Demands and threats typically don’t cease; stay away and let the police deal with it.
Report it: The National Cybercrime Reporting Portal (https://cybercrime.gov.in/) in India is where you may report such instances.
Consider escalation: Organizations should contact law enforcement or CERT-In (India’s cybersecurity agency) if the event is serious.
Act fast: Your chances of preventing monetary loss or reputational harm increase with the speed at which you react.

Keep in mind that you are the victim. At worst, a deepfake could make you feel embarrassed, but the people who make or distribute it are solely to blame, not you. Your best line of protection against the growing danger of deepfake video financial fraud is to remain knowledgeable, vigilant, and aggressive.

About The Author

Suraj Koli is a content specialist in technical writing about cybersecurity & information security. He has written many amazing articles related to cybersecurity concepts, with the latest trends in cyber awareness and ethical hacking. Find out more about “Him.”