Home Finance News Romanian National Bank issues warning about fraudulent deepfake videos targeting consumers.

Romanian National Bank issues warning about fraudulent deepfake videos targeting consumers.

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Romanian National Bank issues warning about fraudulent deepfake videos targeting consumers.

The central bank governor of Romania, Mugur Isarescu, was unwittingly associated with false financial recommendations after being targeted by a deepfake video. The deepfake video, which utilized Isarescu’s image and voice, portrayed him promoting fraudulent investments. The incident has raised concerns about the rising number of deepfake attacks, which involve the use of artificial intelligence (AI) to manipulate audio and video content. The National Bank of Romania responded to the deepfake video by issuing a warning to consumers, emphasizing that neither Isarescu nor the central bank provides investment advice.

This comes at a time when Romania has seen a surge in interest in equity investments, with the country witnessing its largest initial public offering (IPO) last year. Cybercriminals have taken advantage of Romania’s relatively low financial mediation standards, exploiting the situation for their fraudulent activities. Deepfake attacks are expected to intensify this year, particularly around the time of Romania’s upcoming rounds of elections. The Romanian Prime Minister Marcel Ciolacu has also faced cybersecurity challenges, with hackers stealing a copy of his ID card and posting it on the dark web. The attack on Ciolacu’s ID card was linked to Russia’s invasion of Ukraine.

AI technology has made it easier for cybercriminals to generate deepfakes, and openAI is taking steps to prevent the misuse or exploitation of its AI technology in upcoming global elections. The company proactively anticipates and prevents potential abuses like deepfakes.

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