• RajerrRRajersh G
• D.Evangelin
• D.Amutha

The rise of AI-generated deepfakes poses a significant threat to the banking sector, where trust, security, and authenticity are paramount. Deepfakes, which involve the use of artificial intelligence to create highly realistic but fabricated audio, video, or images, have the potential to disrupt financial systems, facilitate fraud, and erode customer trust. According to Sumsub's 2023 research, AI-powered fraud, including deepfakes, ranks among the top identity fraud types globally, with financial institutions being prime targets. This paper examines the impact of deepfakes on the banking sector, focusing on the risks they pose to financial security, customer trust, and regulatory compliance. It explores the technological underpinnings of deepfakes, their potential misuse in financial fraud, and the challenges in detecting and mitigating these threats. The paper concludes with recommendations for safeguarding the banking sector against deepfake-related risks, including technological solutions, regulatory frameworks, and customer education initiatives.

Deepfakes, banking sector, financial fraud, AI-powered fraud, cybersecurity, deepfake detection, customer trust, regulatory compliance

"AI-Generated Deepfakes: A Growing Threat to the Banking Sector and Strategies for Mitigation", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 4, page no.n745-n749, April-2024, Available :http://www.jetir.org/papers/JETIR2504D90.pdf

"AI-Generated Deepfakes: A Growing Threat to the Banking Sector and Strategies for Mitigation", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 4, page no. ppn745-n749, April-2024, Available at : http://www.jetir.org/papers/JETIR2504D90.pdf