{"id":22478,"date":"2023-07-18T12:26:52","date_gmt":"2023-07-18T12:26:52","guid":{"rendered":"https:\/\/www.anthonydidonato.net\/wordpress\/?p=22478"},"modified":"2023-07-18T12:26:53","modified_gmt":"2023-07-18T12:26:53","slug":"prevent-deepfakes-from-hijacking-your-transactions","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/prevent-deepfakes-from-hijacking-your-transactions\/","title":{"rendered":"Prevent Deepfakes From Hijacking Your Transactions"},"content":{"rendered":"\n

Cybercriminals are using artificial intelligence to impersonate agents and other parties to a real estate deal. Here\u2019s how you can stop them.<\/p>\n\n\n\n

You\u2019ve probably seen \u201cdeepfake\u201d videos online purporting to show a person doing or saying something that they never actually did. It\u2019s one of the dangers of artificial intelligence<\/a>: Savvy users can imitate or replace a person\u2019s face or voice to create highly convincing video or audio forgeries and manipulate or deceive audiences. Deepfakes are often used against political or public figures to disrupt discourse. But how can deepfakes put your real estate business at risk?<\/p>\n\n\n\n

    \n
  1. AI can create fake listings, like fraudulent rental ads, to defraud consumers.<\/li>\n\n\n\n
  2. Deepfake videos can trick agents into taking listings or writing virtual sales contracts for properties that don\u2019t exist or are not representative of the actual condition of the property.<\/li>\n\n\n\n
  3. AI can create fake reviews or video testimonials for real estate agents or brokers. Fraudulent reviews may convince consumers\u2014or even other real estate pros\u2014to work with agents who have ethical, disciplinary or criminal issues.<\/li>\n\n\n\n
  4. Deepfakes can be used to slander, defame or damage an agent\u2019s reputation by depicting him or her saying things that were never said.<\/li>\n\n\n\n
  5. Deepfakes can impersonate real estate professionals in order to gain access to sensitive information about clients and defraud them.<\/li>\n\n\n\n
  6. Fake AI-generated property tours online could deceive buyers and agents about property condition.<\/li>\n\n\n\n
  7. Deepfake videos can be used to lure agents into virtual meetings with a cybercriminal who poses as a legitimate party to the transaction.<\/li>\n\n\n\n
  8. Cybercriminals can use AI to impersonate clients and seek unauthorized information about a property, net proceeds from a sale, confirm financial information from lenders or get employment details.<\/li>\n<\/ol>\n\n\n\n

    One of the most significant risks of AI in real estate has to do with wire fraud. The use of deepfakes has made wire fraud even more challenging to detect. Case in point: In 2019, a cybercriminal used AI voice technology to trick the CEO of a U.K.\u2013based energy firm to transfer $243,000 to a secret account(link is external)<\/a>.<\/p>\n\n\n\n

    \n\n\n\n

    Get deepfake safety handouts(link is external)<\/a> to share with other agents and consumers.<\/strong><\/p>\n\n\n\n

    \n\n\n\n

    To protect buyers and sellers from such risks, you must take the necessary steps to ensure that your clients\u2019 identities and transactions are secure. This includes verifying identities, implementing secure payment procedures and adopting strict security measures. <\/p>\n\n\n\n

    You should consistently advise clients of the prevalence of wire fraud in the real estate industry as well as potential deepfake crimes. One step to prevent wire fraud is to put a warning in your email signature. (The National Association of REALTORS\u00ae provides a template<\/a>.) <\/p>\n\n\n\n

    Steps to Protect Against Deepfakes<\/h2>\n\n\n\n