Deepfake Crisis Surges With $12.3B in Fraud Losses, 98% of Content Targets Women

The rapid rise of deepfake technology is creating unprecedented challenges for businesses, governments, and individuals, with financial losses and ethical concerns mounting at an alarming rate.

According to a new report by Views4You dubbed Global Deepfake Incidents by Type (2023-2025) it reveals that, fueled by advancements in artificial intelligence, deepfakes—synthetic media that convincingly mimic real people—are driving a surge in fraud, misinformation, and gendered abuse, posing a multibillion-dollar threat to global economies.

Pornographic Deepfakes Dominate, Targeting Women

The analyses reveal that 98% of deepfake content online is non-consensual pornography, with 99% of victims being women. In 2023, the production of deepfake porn videos skyrocketed by 464% compared to 2022, with major websites cataloging nearly 4,000 female celebrities and countless private individuals whose images are stolen for “face-swap” porn.

This gendered abuse, often targeting actresses, influencers, and ordinary women, has prompted urgent calls for protective legislation. For businesses, particularly in tech and media, the proliferation of such content raises reputational risks and demands robust content moderation systems.

Political Deepfakes Threaten Trust

While political deepfakes constitute only 2% of total deepfake content, their impact is profound. Between mid-2023 and mid-2024, researchers identified 82 political deepfakes across 38 countries, often tied to elections.

Notable cases include a 2023 deepfake of Singapore’s Prime Minister promoting a cryptocurrency scam and a Turkish election smear linking an opposition leader to terrorism.

Women in politics face disproportionate targeting, including pornographic deepfakes used for character assassination. Companies in media and advertising must navigate the risks of inadvertently amplifying such content, while political campaigns increasingly invest in countermeasures to protect their candidates.

Financial Fraud Surges with Deepfake Scams

Deepfake-enabled financial fraud is a growing menace for businesses. In 2023, AI-driven fraud incidents surged over 700% year-over-year, with deepfake scams accounting for 6.5% of all reported fraud attempts—a 2,137% increase over three years.

Scammers leverage cloned voices and videos to impersonate executives in “CEO fraud” schemes or celebrities in fake investment promotions.

The cryptocurrency sector has been hit hardest, with deepfake-related incidents rising 654% from 2023 to 2024. High-profile cases include a Hong Kong bank manager transferring $25 million after a deepfake video call and a UK energy firm losing $243,000 to a cloned CEO voice.

Deloitte estimates that generative AI-driven fraud, including deepfakes, cost U.S. businesses $12.3 billion in 2023, with projections of $40 billion by 2027. Globally, losses are in the billions annually, with an average corporate loss of $500,000 per incident in 2024.

The FBI reports that 40% of online scam victims in 2023 encountered deepfake content, underscoring the scale of the threat. Businesses face daily “CEO impostor” attacks, with an estimated 400 companies targeted each day.

Voice Cloning Fuels Sophisticated Scams

Advancements in AI voice synthesis have amplified the danger. Scammers can now clone voices with just three seconds of audio, achieving 85% realism. A 2023 McAfee survey found that 70% of people cannot distinguish real voices from deepfakes, and 10% of individuals have received deepfake voice calls, often impersonating distressed family members.

Of those targeted, 77% lost money, with some losing over $15,000. High-profile targets, including U.S. officials, have faced AI-generated “vishing” (voice phishing) attacks in 2025, highlighting the need for businesses to train employees and deploy advanced authentication systems.

Exponential Growth in Deepfake Content

The volume of deepfake content is exploding. In 2023, an estimated 95,000–100,000 deepfake videos circulated online, a 550% increase since 2019. Projections suggest up to 8 million deepfake videos by 2025, driven by accessible AI tools and apps.

Social media platforms saw 500,000 deepfake videos and audio clips shared in 2023 alone, with audio deepfakes growing eightfold year-over-year. North America and Asia-Pacific lead in detected deepfakes, with growth rates of 1,740% and 1,530%, respectively, from 2022 to 2023. Businesses in tech, finance, and media face mounting pressure to invest in detection and mitigation technologies.

Detection Efforts Lag Behind

The deepfake detection market is projected to triple from $5.5 billion in 2023 to $15.7 billion by 2026, reflecting heavy investment by tech firms and governments. Leading AI detection tools from companies like Microsoft and Intel claim 90–99% accuracy in controlled settings, but real-world performance is lower, and sophisticated deepfakes often evade detection.

Human accuracy is abysmal, with untrained individuals spotting fakes only 57% of the time—and as low as 24.5% for high-quality videos. Social media platforms like Facebook and YouTube are deploying AI-based moderation, but the sheer volume of content overwhelms current systems. Businesses must adopt proactive measures, such as cryptographic content authentication and watermarking, to stay ahead.

Regulatory and Enforcement Responses

Governments are scrambling to address the crisis. China’s 2023 Deep Synthesis Provisions mandate labeling of AI-generated content, while U.S. states like California and Texas have outlawed malicious political deepfakes. A proposed U.S. federal Deepfake Porn Bill in 2025 aims to criminalize non-consensual explicit deepfakes.

The UK’s Online Safety Act, effective in 2024, makes creating such content a criminal offense. Globally, over a dozen countries have introduced or proposed anti-deepfake laws.

Enforcement is ramping up, with notable actions including a $6 million FCC fine in a U.S. voter suppression case and Japanese arrests for deepfake extortion. Businesses must stay compliant with evolving regulations while investing in employee training and fraud prevention.

Vulnerable Demographics and Business Implications

Women are the primary victims of deepfake pornography, while public figures like CEOs and politicians face impersonation scams. Older adults are particularly susceptible to voice-based fraud, losing $3.4 billion in the U.S. in 2023, while minors and young adults face sextortion threats.

Finance professionals are also at risk, with 43% admitting to falling for deepfake scams in a 2024 survey. The widespread targeting of private individuals signals that businesses must prioritize cybersecurity awareness across all employee levels and customer bases.

Strategic Business Imperatives

The deepfake crisis demands immediate action from businesses:

Invest in Detection Technology: Adopt advanced AI detection tools and explore watermarking solutions to verify content authenticity.
Enhance Cybersecurity Training: Educate employees on recognizing deepfake scams, especially voice-based fraud.
Strengthen Compliance: Align with emerging regulations like the EU’s AI Act and U.S. state laws to mitigate legal risks.
Protect Brand Reputation: Media and tech firms must deploy robust content moderation to prevent the spread of harmful deepfakes.
Collaborate on Standards: Support initiatives like the C2PA to establish industry-wide content authentication protocols.

As deepfake technology evolves, businesses that fail to adapt risk significant financial losses, legal liabilities, and reputational damage. The stakes are high, and proactive investment in detection, prevention, and policy compliance is critical to navigating this growing threat.