Page 84 - Cyber Defense eMagazine December 2023

3. Violation of Privacy: The use of deepfakes in violating individual privacy is a significant concern.
For instance, deepfake videos have been created showing celebrities’ faces superimposed onto
pornographic content, causing considerable distress and reputational damage
4. Targeting Businesses: Deepfakes pose a serious threat to businesses as well, with instances
of extortion, blackmail, and industrial espionage. A notable case involved cybercriminals
deceiving a bank manager in the UAE using a voice deepfake, leading to a $35 million theft. In
another instance, scammers attempted to fool Binance, a large cryptocurrency platform, using a
deepfake in an online meeting

The Financial Sector's Struggle

The financial sector, including banks and FinTech companies, is increasingly targeted by deepfake
scams. These scams exploit vulnerabilities in digital systems and the trust of individuals, leading to
significant financial losses and a loss of consumer confidence. Banks are now investing in defensive
technology and educating consumers about these risks

Conclusion: The Need for Protective Measures

The incidents mentioned above underscore the urgent need for protective measures against deepfake
technology. This is where services like Loti come into play, offering tools to detect and combat
unauthorized use of a person's image or voice. For celebrities, high-net-worth individuals, and
businesses, employing such protective measures is not just about safeguarding their privacy and
reputation but also about defending against potential financial and emotional harm.

In conclusion, while deepfake technology continues to evolve and pose new challenges, proactive steps
and awareness can help mitigate its risks. Companies like Loti offer a valuable resource in this ongoing
battle, helping to ensure that personal and professional integrity remains intact in the digital age.

About the Author

Luke Arrigoni is an expert in artificial intelligence with a rich history of collaboration
with leading U.S. companies like UPS, J&J, Getty, AT&T, Goldman Sachs, CAA,
and Sephora. He's built robust machine learning and data science programs. His
visionary work predates the formal recognition of such technologies in the
industry. Luke's entrepreneurial journey includes successfully building and selling
an econometrics business, showcasing his acumen in creating and scaling
innovative tech ventures. Currently, as the Co-Founder of Loti (https://goloti.com),
Arrigoni leads in digital identity protection, leveraging advanced AI to monitor and control personal image
and video dissemination online, including takedowns of unauthorized content and deep fakes.

Cyber Defense eMagazine – December 2023 Edition 84
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