As AI continues to evolve, a new report shared by Pindrop, a leader in voice authentication and fraud detection technology, reveals a 1,300% surge in deepfake fraud across industries in 2024. According to the report, fraud attempts jumped from an average of one per month to seven per day, while fraud in contact centers reached its highest level in six years.
An analysis of deepfake activity found that insurance companies were especially at risk, experiencing a 475% increase in synthetic voice attacks and a 149% rise at banks. Personally identifiable information (PII) as well as bank account data continues to be at risk, with a 61% increase in fraud rates over the last year.
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"Voice fraud is no longer a future threat—it's here, and it's scaling at a rate that no one could have predicted," said Vijay Balasubramaniyan, CEO and co-founder of Pindrop. "Deepfakes, synthetic voice tech, and AI-driven scams are reshaping the fraud landscape. The numbers are staggering, and the tactics are growing more sophisticated by the day."
The report found that fraudsters are deploying increasingly sophisticated tactics from spoofing as-a-service platforms to AI-enhanced phishing and synthetic voice modulation. Additionally, many fraudsters are leveraging breached PII data and dark web tutorials to bypass traditional defenses. The report also cited a growing trend in deepfake job candidates who are using AI-generated voices and videos to deceive recruiters during remote interviews.
Across industries, one thing is clear: AI now drives 42.5% of fraud attempts, with nearly 1 in 3 considered successful, according to data from Signicat. And looking ahead, Pindrop predicts that AI-driven threats will continue to grow at an unprecedented pace.
According to the report, deepfaked calls are projected to increase 155% in 2025, and contact centers could face $44.5B in fraud exposure in 2025.
"Fraudsters are evolving at warp speed—so our solutions must evolve even faster," said Rahul Sood, Chief Product Officer at Pindrop. "The team at Pindrop is relentlessly innovating to help enterprises verify the right human and build trust in today's AI era. Whether it's the contact center or across various real-time communication channels, we're making security smarter, faster, and frictionless."
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