Rising deepfake threats prompt surge in biometric defences
A recent survey has highlighted the rising threat of deepfake attacks, with almost half of organisations (47%) having encountered a deepfake and a significant portion (70%) believing such attacks will have a high impact on their operations.
The survey, conducted by biometric identity solution provider iProov, also demonstrates a noteworthy optimism among organisations regarding the capabilities of artificial intelligence (AI) in countering cyber threats: 68% of respondents view AI as both a threat and a tool for cybersecurity, while 84% believe it is crucial in protecting against cyber threats.
The survey, titled "The Good, The Bad, and The Ugly," involved 500 technology decision-makers from the UK, US, Brazil, Australia, New Zealand, and Singapore. It found that three-quarters (75%) of the solutions being implemented to combat deepfakes are biometric in nature. However, there is a pervasive concern about the adequacy of current measures, with 62% of respondents worrying that their organisation is not taking the deepfake threat seriously enough.
Deepfakes, which are increasingly used in financial fraud by mimicking individuals to gain unauthorised access to systems or conduct fraudulent transactions, pose a significant risk in scenarios requiring remote identity verification. Andrew Bud, founder and CEO of iProov, commented on the evolving threat landscape, stating, "We've been observing deepfakes for years but what's changed in the past six to twelve months is the quality and ease with which they can be created and cause large scale destruction to organisations and individuals alike." Bud added that the likelihood of organisations encountering deepfakes is probably underreported due to the sophistication of these false images and videos.
The survey also revealed regional variations in the perception and impact of deepfakes. Organisations in APAC (51%), Europe (53%), and LATAM (53%) reported higher encounters with deepfakes compared to their North American counterparts (34%). Additionally, 81% of APAC organisations believe deepfake attacks will significantly impact them, alongside 72% in Europe and 71% in North America, whereas this concern is less pronounced in LATAM, with only 54% expecting a high impact.
Deepfakes rank amongst the top concerns of surveyed entities, alongside password breaches, ransomware, and phishing/social engineering attacks. While deepfakes tied for third place in these concerns, AI's instrumental role in enhancing cybersecurity was also prominently recognised. Nearly all respondents expressed that biometric security should involve more than mere software, with a high preference for continuous monitoring (80%), multi-modal biometrics (79%), and liveness detection (77%).
Amidst the challenges, biometrics have emerged as the primary defence mechanism against deepfakes. Organisations are predominantly adopting facial and fingerprint biometrics to secure remote identity verification processes. According to the survey, facial biometrics are considered particularly suitable for protecting account access, personal details modifications, and routine transactions against deepfake threats.
The survey conducted by iProov, in collaboration with Hanover Research, was administered online and targeted professionals with decision-making authority in cybersecurity solutions within their organisations. These individuals, coming from diverse industries such as banking, eCommerce, healthcare, and telecommunications, shared insights reflective of the broader sense of urgency to enhance cybersecurity frameworks in light of escalating cyber threats.
