Deepfake scams are costing Americans billions of dollars each year. As artificial intelligence continues to evolve, nearly every sector is at risk.
“Scammers can create fake personas and even impersonate people you know and institutions you trust,” said Jeff Taylor, head of Commercial Fraud Forensics at Regions Bank. “While it may seem scary, learning to recognize how fraudsters use deepfakes—and the telltale signs of a scam—can help keep you safe.”
Deepfake Red Flags
No matter how convincing the deception, there are often signs that something isn’t right:
- Urgency and secrecy: Scammers pressure you to act quickly and often insist that you keep the transaction confidential.
- Unusual audio or video: Listen for monotone speech, unnatural pauses or odd background noise. Watch for visual glitches, mismatched facial movements or a lack of blinking.
As technology improves, these scams will become even harder to detect. That makes basic precautions more important than ever.
2 Steps to Stay Safe
- Verify everything: At Regions, we call this STOP, CALL and CONFIRM. Before sending money or sharing information, verify the request using a trusted phone number. A quick call can prevent significant loss.
- Create a code word: Establish a code word with family members or colleagues. If you receive a high-stress or urgent request, ask for the code word before taking action.
Common Types of Deepfake Scams
Law enforcement continues to see several types of deepfake-related fraud:
- CEO or executive fraud: Criminals spoof executive emails or use AI-generated voice and video messages to request urgent wire transfers.
- Grandparent scams: Using voice cloning, scammers impersonate loved ones in distress and request emergency funds. In some cases, they need only a few seconds of audio from social media to create a convincing fake.
- Romance scams: Fraudsters build relationships using fabricated identities, often leading to financial requests, after gleaning your information from social media. Some scams now involve fake celebrity personas to appear more credible.
- Investment scams: These often feature fabricated endorsements from celebrities or business leaders promoting cryptocurrency or “exclusive” opportunities. Before investing, search the opportunity along with terms like “scam” or “review” to identify potential red flags.
“No matter the tactic, the goal of a deepfake scam is the same,” said Kimberly Reece, customer advocacy manager for the Financial Crimes Unit at Regions. “Criminals want your money or sensitive information, and they often exploit emotions and urgency to cloud your judgment.”
What to Do if You Suspect a Scam
A report from the University of Florida’s Information Technology department warns that deepfake scams will only become more convincing. If you believe you’ve encountered one:
- End communication immediately. Cutting off access at least slows the scammer down.
- Pause and stay calm. Acting rationally is critical.
- Verify the request: Contact the person or organization using a trusted method such as a saved phone number or official website.
- Report the incident: Notify law enforcement and contact your bank using a verified phone number, especially if your accounts may be affected.
Test Your Knowledge
Additional Resources from Regions.com
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The information presented is general in nature and should not be considered, legal, accounting or tax advice. Regions reminds its customers that they should be vigilant about fraud and security and that they are responsible for taking action to protect their computer systems. Fraud prevention requires a continuous review of your policies and practices, as the threat evolves daily. There is no guarantee that all fraudulent transactions will be prevented or that related financial losses will not occur. Visit regions.com/STOPFRAUD or speak with your Banker for further information on how you can help prevent fraud.