Deepfakes Threat: As cybercrime skyrockets, govt warns banks and fintechs about new AI risks
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Recently, the finance and banking sectors have been exploring the benefits of artificial intelligence to improve their services, however, the same technology is hovering over them like a dark cloud. The threat of deepfakes is not only limited to cloning people's faces and creating fake photos and videos, but now it is being used to steal people's identity. With the help of deepfakes, tricksters are cloning people's voices to manipulate their friends and family members into emptying their bank accounts or revealing vulnerable information. The Indian government has now warned banks and fintech companies about the rising deepfakes threat in the coming months and wants them to strengthen security against cybercrime.To understand the deepfakes threat, one must know what it is. These a...