An increase in AI-generated deepfake scams has Canadian business leaders worried, according to a new KPMG survey.
“Respondents overwhelmingly told us the fraud landscape is becoming more complex, with 95 per cent saying generative AI and social engineering scams make it easier for fraudsters to deceive, manipulate, misrepresent and conceal their crime. As fraudsters are becoming increasingly sophisticated in their attack methods, it’s more and more challenging to deter criminals,” says Enzo Carlucci, National Forensic Leader at KPMG in Canada. “Organizations need to find new ways to strengthen their anti-fraud programs and stay one step ahead of scammers, or else they could be facing increased financial, legal, regulatory and reputational risks.”
Other key findings of the survey, which looked at 300 Canadian organizations victimized by fraud, include:
- 84 per cent worry that current economic conditions could potentially drive their employees or their customers to commit fraud out of desperation
- 87 per cent say the shift to remote work increased the risk of fraud occurring within their company, due to a reduced ability to monitor and control for fraudulent behaviour
- 89 per cent admit they had to “scramble or react quickly” to implement a robust fraud detection and prevention program due to a fraud incident
