David Barrett, CEO of EBC Financial Group (UK).
YOUR BANKER IS A LIE. The digital finance revolution has unleashed a MONSTROUS new wave of crime, with AI deepfake scams surging by a BLOOD-CHILLING 1,200% in South Africa alone. Experts are sounding the alarm that this isn’t just fraud—it’s a SYSTEMIC COLLAPSE of trust, engineered by criminals who can now perfectly clone the voice of your CEO, your broker, or even a family member to ROB YOU BLIND.
This is not a future threat; it is happening NOW. Global financial firm EBC Financial Group exposes a harrowing reality: as South Africans embrace “tap-and-go” convenience, moving R1.361 TRILLION electronically in a single month, cyber predators are deploying weaponized AI to launch hyper-personalized attacks. These are not crude emails. These are UNSETTLINGLY REAL video calls from “trusted” figures and “guaranteed” investment pitches backed by fabricated celebrity endorsements, all designed to siphon life savings in seconds.
The nightmare deepens with Remote Access Trojan (RAT) attacks, where AI-crafted messages trick victims into installing malware that gives criminals TOTAL CONTROL of their devices—with zero warning signs. Martin Potgieter of Integrity360 warns these tools are evolving to evade all consumer-grade security. We have entered an era where seeing and hearing is NO LONGER believing.
Shockingly, public alerts reveal victims have already been conned out of over R6 MILLION. With SIM-swap fraud already costing R5 billion annually, cloned voice authorizations are set to RENDER CURRENT MOBILE SECURITY OBSOLETE. INTERPOL’s Operation Sentinel, resulting in 574 arrests, barely scratches the surface of a global criminal ecosystem that moved over $154 BILLION in illicit crypto last year.
The chilling implication is clear: the very pillars of digital identity and transaction security are crumbling. “Deepfakes change the rules by removing the usual warning signs,” states David Barrett, CEO of EBC. When a single question can unravel a scam, but urgency overrides logic, we must ask ourselves a terrifying question: in the age of synthetic reality, what—and who—can we ever truly trust again?



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