Deepfakes in legal fraud unaddressed
Stopping fraud is a major focus of cybersecurity is criminal fraud. Largely, the industry is winning that war. Nowhere is that protection more successful than in combatting deepfake crime, even though industry marketing is geared to promote fear over success. Where deepfakes are causing the real problem is in legal fraud.
Digital fraud represents 0.02 percent of all fraud claims according the National Crime Insurance Bureau (NCIB). While there is evidence that criminal use of AI is increasing the number of attacks, the number of successful attacks is too low to warrant recording.
Deepfake crime a trifle
The FBI’s Internet Crime Complaint Center (IC3) lumps all forms of online fraud into a single category. Even so, the IC3 fielded 859,532 complaints of suspected internet crime in 2024. Of those complaints, 256,256 incidents resulted in actual monetary losses, representing an average loss of $19,372 per complaint. Overall, the reported losses exceeded $16.6 billion, a 33% increase from 2023. However, the top three cybercrimes in 2024 reported to IC3 were phishing/spoofing, extortion, and personal data breaches. None of those required the use of deepfake technology, and rarely did.
Extrapolating the data from NCIB with IC3’s indicates successful deepfake fraud cases were less than 50 in total in 2024 with 94% of those occurring during a spike of activity between November and December 2024.
