Deepfake-driven fraud has caused $2.19 billion in losses globally, with $1.65 billion reported in 2025 alone, according to an analysis by Surfshark. More than half of these losses were due to investment scams using deepfakes of high-profile figures.
“Our analysis reveals that the most successful tactic for scammers involves using deepfakes of government officials or celebrities to endorse various investment opportunities,” the researchers write. “This method alone has caused $1.13 billion in damages, which represents 52% of all reported deepfake-related fraud losses. This is followed by corporate attacks — such as the impersonation of CEOs to request unauthorized transactions — at 25%. Other significant contributors include financial crimes where victims’ identities are stolen and scammers use deepfake technology to secure bank loans or drain accounts (9%), followed by deepfaked…
CLICK HERE to read the FULL Report: Deepfake Fraud Causes Billions in Losses – KnowBe4 Blog article.
These frauds exploit emotional vulnerability and trust rather than technical weaknesses.
- Romance Scams: Scammers build long-term online relationships with victims, eventually fabricating a “crisis” (medical emergency, legal trouble, or travel costs) that requires the victim to send money.
- Pig Butchering: A hybrid scam where the criminal builds a romantic or platonic relationship to eventually “tutor” the victim in a fraudulent cryptocurrency investment.