Financial Fraud and Manipulation
Pooja Kaushik, Vikas Garg, Anu Priya, Shashi Kant · Advances in business information systems and analytics book series · 2024
Advanced technologies like Deepfakes are dispatched more frequently in the financial fraud and manipulation to manipulate the stakeholders and markets. Deepfake is synthetic media created using artificial intelligence techniques; the deep fake can impersonate the person's voice, picture, and videos. As a result posing severe risks to the privacy of financial transactions and corporate communications. This chapter focuses on the emerging area of financial fraud with focus on the use of deepfake for stock manipulation and impersonation and spreading fake information. Last, the author offers a complex approach, which deals with both the regulation and the technology, and instruction levels to prevent the financial industry from this sophisticated fraud. It is our belief that carrying out this analysis will help expand the dialogue on financial fraud prevention during the age of artificial intelligence.