The new tool TruthScan can identify fake faces before you fall for them.
The rapid rise in AI-based fraud, particularly deepfakes, has raised serious concerns among businesses and everyday users alike. In one shocking case, scammers managed to steal over $25 million by faking the voice of a CFO at an international company in Hong Kong. This incident highlights how easily AI-based image and video generation tools can be accessed by inexperienced attackers, enabling sophisticated cyberattacks.
In response to the growing threat of AI fraud, the former founders of Undetectable AI have launched a new company called TruthScan, aimed at detecting and countering AI-driven deception—including image, audio, video, and text-based deepfakes. According to TruthScan CEO Christian Perry, the tool uses reverse engineering and cross-analysis techniques to identify the methods used in generating deepfakes and expose them before any damage is done.
Statistics show that attempted deepfake fraud has surged by more than 2,137% over the past three years. In the first quarter of 2025 alone, financial losses from such scams in the U.S. reached $200 million, and that figure is projected to rise to $40 billion by 2027. Despite these alarming numbers, only 29% of companies have taken steps to combat deepfakes, while 46% have no risk-reduction plans in place at all.
According to Menafn, the financial sector is one of the primary victims of AI-based fraud. In 2023 alone, the number of deepfake attacks in this sector rose by 700%. While public awareness is gradually increasing, the ability to detect and counter fake videos remains limited—people can correctly identify deepfakes only about 24.5% of the time. TruthScan aims to offer practical solutions to tackle this emerging crisis—before it’s too late.
