AI deepfakes are so widespread the new rule of thumb for everyone is never trust and always verify to avoid becoming a victim of fraud. Scammers have been targeting consumers for years using voice messages impersonating loved ones asking for money, and are now using deepfake videos to con people out of their savings. Last year alone, AI money-making scams cost American consumers an estimated $108 million, and that figure is predicted to skyrocket as the technology improves.
Consumers aren’t the only ones being targeted by AI. Real estate agents have become victims in one of the fastest-growing crimes in the United States, property fraud. In one case, a realtor received emails and phone calls from a someone impersonating an owner who wanted to sell property locally yet claimed to live out of state. The individual explained they needed to sign virtually for the transaction and even went as far as to use AI to deepfake a video conference call to discuss the deal with their agent. AI is also being used to impersonate agents and lenders to trick buyers and sellers into sending money to close transactions.
AI crimes are impacting all industries and more than 80% of businesses have fallen prey to phishing attacks. These attacks involved either fake emails from trusted clients and fraudulent invoices directing the business to pay the online, or deepfake video chats from impersonators authorizing fraudulent transfers of funds. The FBIestimates phishing attacks have cost more than $12 billion over the past 5 years in the U.S. alone, but it’s happening globally. Early last year, a Hong Kong a finance officer received a deepfake video chat from someone he believed to be the company CEO ordering him to transfer $25 million, so he did. These are scary times we live in.
Americans in both political parties are now realizing the huge part AI played in the 2024 election. AI deepfakes were used to trick voters in New Hampshire into believing their party leader did not want them to vote in the primary. A Democratic political consultant has since been fined $6 million by the FCC and was indicted on criminal charges after he was found to be behind the deepfake Biden voicemails. He claimed he did it to raise alarm bells about the dangers of AI. Then, in what appeared to be an attempt to widen the partisan divide, Elon Musk shared a deepfake video spreading conspiracy theories about Kamala Harris and Trump on X. It looked like a real campaign video but after it was proven to be an AI deepfake, Elon claimed he posted the video as satire. Never trust and always verify to stay safe from fraud in 2025.