Deepfake Scams Just Cost Businesses $200M – Could Your Team Spot One?

In 2024, companies lost an estimated $200 million to deepfake scams. One global firm alone wired $25 million after employees joined what looked like a legitimate video call with their CFO but every face and voice on that call was fake.

This isn’t a future threat. It’s happening right now in corporate America, and every business from Fortune 500 giants to mid-sized U.S. firms is at risk.

What Are Deepfake Scams?

A deepfake scam uses artificial intelligence to create hyper-realistic audio, video, or images designed to impersonate trusted people. Criminals exploit these tools to:

• Clone executives’ voices to demand urgent wire transfers.
• Fake leaders on Zoom or Teams calls to push employees into action.
• Produce celebrity endorsements to lure Americans into investment traps.

According to the FBI, deepfake fraud is now one of the fastest-growing cybersecurity threats to U.S. businesses.

Why U.S. Businesses Are at Greater Risk

1. High-value, fast-moving transactions. American businesses often move millions in a single deal perfect targets for fraudsters.
2. Remote and hybrid work. Employees rely heavily on digital trust a “video call” feels like proof.
3. Authority pressure. U.S. work culture prizes urgency and compliance. Employees hesitate to question leadership, which scammers exploit

Recent Cases That Hit the Headlines

The $25M CFO Deepfake: A multinational’s Hong Kong arm transferred millions after believing they were on a real call with their U.S. finance head.

Spotting the Fakes: Would Your Team Pass the Test?

Deepfake scams are convincing, but small red flags often give them away:

• Unnatural speech patterns or rushed tone.
• Limited interaction – the person avoids small talk.
• Urgency without context – requests for immediate action or secrecy.

The real question: Would your team recognize these warning signs, or act before verifying?

How U.S. Businesses Can Protect Themselves

1. Train Employees on Deepfake Awareness

Cybersecurity training should go beyond phishing. Employees must learn how deepfake video scams and AI voice scams work.

2. Establish a “Verify First” Policy

No transaction should ever be cleared from a single call or voicemail. Use multi-channel verification phone, email, or internal codes.

3. Invest in Detection Tools

AI-powered detection software can flag irregularities in video and audio. Not perfect, but a valuable layer of defense.

4. Encourage Employees to Question Authority

In corporate America, hesitation is often seen as weakness. Flip that culture. Empower employees to pause and double-check.

5. Build a Deepfake Incident Response Plan

Prepare a playbook that outlines precise actions for finance, legal, and IT in the event that a scam is discovered.

In 2024, deepfake scams cost US companies hundreds of millions, and by 2026, experts predict the losses could amount to billions.

The businesses that develop cultures of verification, train their staff, and update their policies will be the ones that thrive, not the ones with the largest budgets.