AI-Powered Deepfake Scams Are A Pain In The Wallet – Cybercrime Magazine

Sausalito, Calif. – Jan. 14, 2026
–Read the full story in Finextra
With the democratization of artificial intelligence (AI) technology, deepfakes are becoming a popular tool among cybercriminals with which to scam consumers, businesses and even institutions, out of their cash.
In Mastercard’s Cybersecurity Survey 2025 it was estimated that losses and damages from cyberattacks came to $9.5 trillion in 2024, according to Cybersecurity Ventures – making cybercrime the third-largest economy in the world. That figure was $10.5 trillion for 2025, and it’s predicted to hit more than $12 trillion in 2031.
In one example, UK engineering firm Arup fell victim to a £20 million deepfake scam in which a Hong Kong employee was duped into sending cash to criminals, having joined a video call led by an AI-generated senior officer.
A recent Medus survey found that the majority (53 percent) of finance professionals have been targeted by attempted deepfake schemes. Even more concerning is the fact that 43 percent admitted to ultimately falling victim to the attack.
The good news is that with the right level of knowledge and awareness, organisations can protect themselves with little capital investment. A Finextra article shares some of the ways to spot the use of voice cloning, deepfake video, and social engineering.
Read the Full Story
Cybercrime Magazine is Page ONE for Cybersecurity. Go to any of our sections to read the latest:
Contact us to send story tips, feedback and suggestions, and for sponsorship opportunities and custom media productions.
Listen! @SteveWoz, Co-Founder of @Apple #Phreaks Out On The History Of #Hacking w/ @CybersecuritySF on the #Cybercrime #Radio #Podcast. https://t.co/MnQMFkjhSO
All rights reserved Cybersecurity Ventures © 2018
© 2025 Cybersecurity Ventures. All rights reserved. Federal copyright law prohibits unauthorized reproduction of this content by any means and imposes fines up to $150,000 for violations. Reproduction in whole or in part in any form or medium without expressed written permission of Cybersecurity Ventures is prohibited.

All rights reserved Cybersecurity Ventures © 2025
WATCH CYBERCRIME MAGAZINE YOUTUBE CHANNEL VIDEOS SUBSCRIBE

source
This is a newsfeed from leading technology publications. No additional editorial review has been performed before posting.