Deepfake fraud has escalated to an “industrial” scale, according to a report from the AI Incident Database, which highlights that tools for creating personalized scams are now widely accessible and inexpensive. Notable cases include deepfake videos of public figures promoting fraudulent schemes, with scammers leveraging AI for targeted heists, such as a $500,000 loss by a finance officer in Singapore. The report indicates a significant rise in fraud incidents, with targeted manipulation making up the majority of cases reported. MIT researcher Simon Mylius emphasizes the low barrier to entry for producing convincing fake content.
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