Deepfake financial fraud to surge over the next 12 months, Deloitte reveals

A recent Deloitte poll indicates that over half of C-suite executives expect an increase in deepfake financial fraud targeting their companies within the next year. The financial services industry, particularly in India, faces significant risks from these attacks, as criminals use AI to create convincing fake documents and impersonate executives. The potential financial losses could reach up to $40 billion. While initial incidents heighten concern, organizations are becoming better at detecting and managing these sophisticated fraud schemes.

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