Deep fakes, a form of AI-assisted cyber-attacks, are rapidly emerging as a significant threat to businesses globally, with South Africa now increasingly in the crosshairs. These sophisticated techniques, which involve the creation of hyper-realistic videos, emails, and other digital content, are designed to deceive and manipulate, making it easier for cybercriminals to breach corporate networks.
The proliferation of deep fake technology has left IT professionals racing to keep up, employing AI-driven solutions to detect and address vulnerabilities before they can be exploited. While precise statistics on deep fake-related incidents in South Africa are not readily available, the growing threat is undeniable. Cryptocurrency company Luno has been at the forefront of combating these attacks, detecting and successfully removing over 2,000 fake social media sites and nearly 500 fraudulent websites in the past year alone.
Globally, the number of deep fakes detected has surged tenfold across various sectors, according to eftsure, a payment security company. “This dramatic rise in deep fake detection underscores the rapid advancement of AI-powered fraud techniques and the urgent need for more sophisticated detection methods,” eftsure said in a statement.
The cryptocurrency industry, in particular, has become a prime target for deep fake fraud, with 88% of all detected cases in 2023 affecting this sector. “This statistic highlights the particular vulnerability of the cryptocurrency industry to advanced fraud techniques, likely due to its digital nature and potentially high financial stakes,” eftsure noted.
Luno, South Africa’s largest crypto investment app, has also faced direct threats. In one incident, a Luno staff member received a deep fake audio message on WhatsApp, purportedly from a company executive. The fraudulent message was identified in time, and the threat was neutralized by alert staff.
“Deep fakes pose a material risk in the crypto sector,” said Johan Hetzel, Luno’s global head of compliance and anti-financial crime. Luno’s proactive approach includes a dedicated team focused on customer safety, using various tools to monitor and eliminate fraudulent websites and social media platforms that misuse the company’s brand. This swift action is crucial in minimizing the potential damage from such attacks.
The broader implications of deep fake technology extend beyond just the cryptocurrency sector. Francois Smit, campus manager and cluster head of networking at Belgium Campus iTversity, emphasized the growing challenge posed by deep fakes. “Advances in technology are making it increasingly difficult to distinguish between genuine and manipulated images and voices, which could impact the man on the street,” Smit explained. He also noted that while some deep fakes can be identified by certain telltale signs—such as unusual speech patterns, mismatched lip-synching, and irregular shadows—these indicators are becoming harder to detect as the technology improves.
Arthur Goldstuck, managing director of World Wide Worx, pointed out that deep fakes have been used for misinformation, propaganda, and manipulation on social media in South Africa for some time. “The difference now is that the tools to create such content are available to all,” Goldstuck said. “As the tools become better, we’ll also see a dramatic increase in deep fake content being distributed or used to blackmail, coerce, convince, and manipulate.”
Goldstuck warned of the increasing vulnerability of individuals to such manipulation. “It has never been more important for individuals to be aware that attempts will be made to manipulate them. Sadly, individuals have never been more willing to be manipulated, if the messaging aligns with their worldviews,” he added.
As deep fake technology continues to evolve, the challenge for South African businesses and individuals alike is clear: staying ahead of increasingly sophisticated cyber threats will require constant vigilance and adaptation.
