Deep fakes are changing fraud. Here’s what your business needs to know
Fraud is evolving fast. What used to be a suspicious email is now a convincing voice call or video that looks and sounds real. For businesses of all sizes, deepfakes and AI impersonation are reshaping fraud in ways that are harder to spot and easier to fool even the most tech-savvy.
A new level of impersonation
AI tools can now clone a voice with just a few seconds of audio from a social media clip or create realistic video in minutes from a photo posted online. That means a fraudster can look and sound like your CEO, a co-worker or vendor, or even your banker.
The risk with AI-enabled fraud is escalating quickly. Deepfake fraud attempts have surged in recent years, with many businesses reporting being targeted by audio or video impersonation. In fact, financial losses in North America from deepfake-enabled fraud exceeded $200 million during the first quarter of last year, with video accounting for 46% of the attacks, followed by images and voice.1
Why businesses are at risk
Deepfake scams work because they target how work gets done today, with fast approvals and remote communication. Common scenarios can include an executive impersonation with an urgent wire request, a vendor call with new payment instructions and fake video meetings that appear legitimate.
How to spot and reduce risk
Awareness is your first line of defense. Train employees to stop and verify, especially when money or sensitive data is involved.
Pay attention to:
- Monotone or flat speech, or unusual cadence. Even if the voice sounds familiar, it may lack normal highs and lows or may have an awkward rhythm and misplaced pauses.
- Noticeable digital clues. Listen for sounds like a faint buzzing or echo, especially on longer calls. Poor audio quality or background noise like static or call-center sounds are also tricks scammers use to mask AI voice imperfections.
- Lack of human sounds or a limited script. Missing sounds like throat clearing and sighing, or responses that sound repetitive, can be signs of a fake.
Controls to implement:
- Confirm payment requests by contacting the source directly through a known number or channel
- Require dual approval for wires and changes
- Watch for urgency, secrecy or changes to normal process
- Create a culture where questioning is encouraged
- Have a response plan ready, knowing who to contact and what steps to take if you’re a victim
How your bank can help
Protecting your business is our priority — and a shared effort. Deepfake fraud isn’t coming soon. It’s here. And it can happen to anyone. The good news is that with the right controls, awareness and a trusted banking partner, you can reduce risk and protect your accounts.
Visit columbiabank.com/security-center/business to learn more. If you think you’ve been a victim of fraud, call Columbia Bank immediately at 866-486-7782.
1 Resemble AI, Q1 2025 Deepfake Incident Report
