Banking in the Age of Deepfakes

Abstract

Deepfake technology utilization has grown riskier in the midst of rapidly evolving digital technologies, which has a significant impact on a number of industries, especially finance. To measure the impact of the independent variables given in a conceptual model on the perceived threat of deepfake technology, a questionnaire was framed and circulated in Delhi, the capital of India. Based on the responses collected under the questionnaire, a linear regression model was applied. The significance of this research on the perceived threat of deepfake technology in financial scams among banking professionals lies in its potential to inform and guide the development of targeted training programs, robust security measures, and strategic policy interventions that enhance awareness, trust, and preparedness, thereby fortifying the banking sector against sophisticated digital fraud and safeguarding financial integrity.