Deepfake Scams in Finance and Real Estate

Cybercriminals use sophisticated AI technology, like deepfakes, to impersonate real people, such as company executives, for the purpose of defrauding victims.

Criminals exploit publicly available data, like videos on platforms like YouTube, to create realistic deepfakes of their targets.

Fraudsters target high-value transactions, such as real estate deals, due to the significant financial sums involved.

Cybercriminals use AI-powered tools to manipulate audio and create convincing voice imitations of individuals, potentially leading to victims following fraudulent instructions.

Victims, even those with extensive experience in cybersecurity, can be tricked by sophisticated impersonation techniques, highlighting the effectiveness of AI-driven fraud.

Escrow officers and wire transfers are crucial components of real estate transactions, making them a potential target for criminals attempting to intercept funds.

Victims of AI-driven fraud are often left with significant financial losses and the potential for legal complications, emphasizing the impact of this crime.

The use of Zoom calls allows fraudsters to visually impersonate individuals and gain the trust of victims, making it difficult to detect the scam.