DELOITTE’ S CENTER FOR FINANCIAL SERVICES PREDICTS THAT FRAUD ENABLED BY GEN AI COULD REACH
US $ 40BN
IN LOSSES IN THE US BY 2027
processes, though experts warn that attackers’ technical sophistication typically outpaces detection capabilities.
Liveness detection technology can detect subtle movements, such as blinking or changes in facial expression, that are difficult for deepfakes to replicate convincingly.
Financial institutions are particularly focused on these technologies during digital onboarding processes, where fraudsters might use synthetic identities supported by AI-generated media.
Behavioural biometrics offer another layer of protection by analysing patterns in user behaviour, such as typing speed, mouse movements, and navigation habits.
These patterns are unique to each individual and difficult for fraudsters to mimic accurately.
The cost of doing nothing Deloitte’ s Center for Financial Services predicts that fraud enabled by Gen AI could reach US $ 40bn in losses in the US by 2027.
Arup, a multinational design and engineering company behind world-famous buildings such as the Sydney Opera House lost HK $ 200m( US $ 26m) after scammers used deepfake technology to fabricate representations of company executives during a video call.
80 October 2025