Deepfake Danger For Banking, This Is A Party That Must Be Affected

Deepfake impact for the banking sector (photo: dock. unsplash)

JAKARTA ADVANCE.AI, Australia-centric big data and Artificial Intelligence (AI) company, has expressed the bad effects of deepfakes or AI abuse on the banking sector.

According to Anggraini Rahayu, Country General Manager of ADVANCE.AI, deepfakes can harm three parties at once. The first parties to be affected are individuals or people whose data is illegally used.

When a person's face or identity is stolen and manipulated, the person's reputation can be destroyed. Individuals can also suffer financial losses if their deepfakes are used for phishing or illegal withdrawal of funds.

"When his identity was stolen, the individual's losses were extraordinary. The data was stolen, used for phishing and withdrawing money," said Anggraini when met at the Allo Bank office on Thursday, July 17.

Furthermore, the party who will be harmed is the relevant organization. For example, when someone's data is stolen to collect money from the relevant bank, the bank will be harmed in terms of brand awareness.

Banks that are targeted by deepfakes will get a negative image from the public, especially customers. They can lose the trust of customers because the bank's security is considered less capable.

"The trust of customers or the public towards the bank is low, because it is considered that the bank is not secure. Later, you will save money in the bank (it can be considered easy to lose. So, it will cause the image's reputation to be not good," explained Anggraini.

Banks can also be harmed financially when affected by deepfakes. They are most likely required to return lost funds to customers to take responsibility and restore the company's reputation in the public eye.

Finally, the community or community as a whole will also suffer the impact. Misinformation and misleading due to deepfakes can cause mass confusion.

To overcome fraud with deepfakes, deepfake prevention efforts need to be made. One is by developing a detection model developed by a team of experts.

This model must be specially designed to anticipate and prevent misuse of deepfakes. Currently, ADVANCE.AI already has this technology with a success rate of more than 95 percent and close to 100 percent.