People need to be more vigilant than ever before while interacting and transacting online.



As the uptake of the digital sphere continues, so too do the risks, and no one is safe. Namibia’s former First Lady, Monica Geingos says that she has noticed an increase in scammers pretending to be her.



The latest, according to Geingos, includes AI manipulated videos of her asking members of the public to invest in fraudulent schemes.



“Something that has surprised [me] of late is how ubiquitous it’s become across social media platforms,” the former first lady said in a video released on social media last week.



“Recently, somebody received a video call purportedly of me convincing them to invest in some kind of weird Forex schemes. I am not a Forex person. I am not on any social media platform asking for any money or giving any loans out, or whatever you’re being told. So take it from me, it’s not true.”



Deepfakes, an emergent type of threat falling under the greater and more pervasive umbrella of synthetic media, utilize a form of artificial intelligence/machine learning (AI/ML) to create believable, realistic videos, pictures, audio, and text of events which never happened, and it has become alarmingly high.



According to a study done by the United States’ Homeland Security, tilted ‘Increasing Threat of DeepFake Identities’ &nbsp;deepfakes and the misuse of synthetic content pose a clear, present, and evolving threat to the public across national security, law enforcement, financial, and societal domains.



“To adequately characterize the current threat landscape posed by deepfakes, we must consider the context of the varied threats, malign actors, victims, and technology,” the study reads.



“Experts across industry, academia, and government have a diverse perspective on the threat of synthetic media. Some assert that it is overblown, overstated, and technically infeasible to create a convincing deepfake, or it will simply be ineffective against a skeptical public.”



However, it asserts that the threat is “very real and harmful” as noted by the victims of this type of material.



A 2024 Regula report, ‘Deepfake Trends 2024’, states that 57% of Crypto companies have reported audio deepfake incidents, compared to just 45% who were facing fake or modified document fraud.



Regula, an identity verification solutions provider, also says that 53% of Crypto firms have encountered video deepfake fraud, cementing deepfakes as a top concern.



Further to this, in 2023, research company, Sumsub, stated that South Africa had an “astounding rise” of 1200% in deepfake frauds. With AI-driven fraud remaining the most prominent challenge across various industries, crypto is the main target sector (representing 88% of all deepfake cases detected in 2023), followed by fintech (8%).



“South Africa faces a perfect storm of fraud challenges that impact the entire breadth of the economy,” Sameer Kumandan, Managing Director of SearchWorks, a data platform, said in a statement last year.



“From digital identity scams that affect consumers to complex procurement fraud that places organizations at risk, businesses need to adopt proactive strategies to mitigate financial and reputational damage as a matter of urgency.”



Geingos appealed to the public, stating, “Please don’t communicate with these fake accounts. Please report them… keep your money safe. Don’t give it to these crooks; the only intention is to rob you”.

Tag: DeepFakes

FORBES AFRICA SOCIAL MEDIA

Scammers Use Former Namibian First Lady’s Face To Con People As Deepfakes Continue To Rise