Concerns about AI's potential to create synthetic fingerprints, facial images or voices for ID fraud
Australian companies are intensifying their efforts to counter AI-driven cyber threats, particularly deepfake impersonations, which have emerged as a significant concern across the world.
According to GetApp's 2024 Executive Cybersecurity Survey, 66% of IT and cybersecurity professionals in Australia report that their organisations have implemented specific measures to defend against deepfake attacks.
The survey, which gathered responses from 241 Australian IT and cybersecurity experts, found that 47% of businesses are using simulation exercises to prevent deepfake attacks. However, this falls short of the 55% reported globally.
"AI-generated threats like deepfake represent a significant challenge for businesses, especially with the growing reliance on biometrics," said Andrew Blair, Content Analyst at GetApp, in a statement.
"However, the data shows that Australian companies are stepping up to the challenge by investing in stronger cybersecurity measures and preparing for the evolving threat of AI-driven impersonation attacks."
The findings reflect the growing concern about AI deepfakes amid rising cases in other parts of the world.
One of the most notable cases of deepfake fraud in 2024 occurred with a multinational company in Hong Kong, which lost HK$200 million after a clerk fell victim to a sophisticated deepfake video conference scam.
The clerk was duped into transferring the amount after participating in a video conference where other participants were later discovered to be AI-generated deepfake personas.
Rising investment in cybersecurity
Meanwhile, the GetApp report also reveals that 88% of Australian companies have increased their cybersecurity investments over the past 18 months, surpassing the global average of 77%.
Efforts to combat the rising threat of cyberattacks include:
- Implementing network security improvements (53%)
- Training executives on security-related topics (49%)
- Deploying data encryption methods (48%)
Biometric authentication prevalent
Overall, biometric authentication remains one of the most prevalent protections implemented by businesses, despite the threat of AI deepfakes, according to the report.
It found that Australian companies are in line with global trends, with 78% using fingerprint biometrics and 68% employing facial recognition, compared to global averages of 77% and 59%, respectively.
The survey also discovered that 97% of Australian professionals who use biometric measures expressed satisfaction with their effectiveness. This is despite challenges including:
- Privacy concerns (51%)
- Potential for identity theft (44%)
- Protection against biometric data breaches (44%)
In fact, 51% of IT professionals cited privacy issues as a major challenge when using biometric protections.
Australians were also the most likely respondents (80%) to worry about AI's potential to create synthetic fingerprints, facial images, or voices for ID fraud.
