About this episode
Fraudsters are increasingly using deepfake videos of CEOs and other company executives to trick firms out of millions of dollars. And with the evolution of AI, these videos are becoming ever-more sophisticated and convincing. We speak to two CEOs who have been deepfaked: the head of the Bombay stock exchange and the boss of password security company LastPass. And we hear how criminals used deepfake videos to trick British engineering firm Arup into handing over $25 million. How easy is it to make these videos? Ed Butler visits a cybersecurity company which shows him how it can be done, using readily available software. Ed's hosts make a deepfake of him and we compare the real Ed to the fake Ed. We also put figures on the size of this problem and explain how much it's costing businesses. If you'd like to get in touch with the team, our email address is [email protected]: Ed Butler Producer: Gideon Long Sound Mix: Toby JamesBusiness Daily is the home of in-depth audio journalism devoted to the world of money and work. From small startup stories to big corporate takeovers, global economic shifts to trends in technology, we look at the key figures, ideas and events shaping business. Each episode is a 17-minute deep dive into a single topic, featuring expert analysis and the people at the heart of the story. Recent episodes explore the weight-loss drug revolution, the growth in AI, the cost of living, why bond markets are so powerful, China's property bubble, and Gen Z's experience of the current job market. We also feature in-depth interviews with company founders and some of the world's most prominent CEOs. These include Google's Sundar Pichai, Wikipedia founder Jimmy Wales, and the CEO of Starbucks, Brian Niccol.(Picture: An image of a man in a cap being deepfaked. Credit: Getty Images)