From Sci-Fi to Real Life: The Evolution of Deepfake Technology
Once upon a time, the idea of digitally swapping faces or creating hyper-realistic videos of people saying things they never actually said was confined to Hollywood blockbusters. Think of movies where actors were digitally de-aged or deceased celebrities made surprising cameos. However, in 2017, a new term hit the internet: “deepfake.” It was a blend of “deep learning” and “fake,” originally coined when a Reddit user used AI to swap celebrities’ faces in videos.
Since then, deepfake technology has evolved at warp speed. While some use it for harmless fun—like making historical figures “sing” pop songs—others have taken a more sinister route. Today, deepfakes are used in political disinformation, identity fraud, and cybercrime, including the more recent entrée into the fraudulent diversion of funds and properties in real estate transactions.
The Rise of Deepfake Fraud in Real Estate
Deepfake fraud has been making headlines in unexpected ways, and real estate is one of the latest industries to be hit. In the past two years, fraudsters have harnessed AI-powered deepfake technology to pose as property owners, financial executives, and even notary publics.
Take, for example, a case from 2023 where a scammer used a deepfake voice to impersonate a real estate attorney in a communication with a client. The unsuspecting buyer was convinced that he was talking to his legitimate attorney and wired a six-figure down payment—straight into the scammer’s account.
Another shocking case involved a fraudster using a deepfake video to pose as a property owner looking to sell a luxury home. The scammer managed to fool not only the buyer, but also the title company, leading to the fraudulent sale of a multimillion-dollar estate.
Of course, there was also the fraudulent attempt to force a foreclosure sale of Graceland, Elvis Presley’s home, which made headlines in 2024.
How to Combat Deepfake Fraud in Real Estate
With deepfake technology becoming more advanced, spotting fakes is harder than ever. But that doesn’t mean we’re powerless. Here are some strategies to avoid falling victim:
- Double-Verify Identities
Don’t rely solely on phone calls, video calls, or emails. Always confirm identities through multiple channels—such as in-person meetings, official documentation, and voice confirmation through previously established phone numbers. - Use Multi-Factor Authentication (MFA)
When transferring funds or signing critical documents, consider requiring MFA. This adds an extra layer of security beyond just visual or voice verification. - Scrutinize Video Calls and Emails
If something feels off—like unnatural blinking, delayed audio sync, or robotic speech patterns—be skeptical. Deepfake videos often have subtle imperfections that can give them away. - Conduct Due Diligence
If a new client or seller suddenly appears with urgent demands, do your due diligence. Check property records, verify business affiliations, and ensure everything aligns with known facts. - Leverage AI Detection Tools
Just as AI is being used to create deepfakes, it’s also being used to detect them. Some AI-driven tools analyze facial movements, voice anomalies, and inconsistencies in digital assets to help identify fraudulent activity. In the real estate sphere, SecureMyTransaction®, developed by Alliant National, applies AI facial-recognition technology to verify identity documents such as driver’s licenses and passports.
The Bottom Line
Deepfake technology is no longer a futuristic concern—it’s here, and it’s changing the way fraudsters operate. By staying vigilant and implementing multi-layered verification methods, you can ensure that your next property transaction doesn’t turn into a deepfake disaster.
See Alliant National’s most recent Title Tip, which was inspired by a real-life attempt to commit wire fraud using deepfake technology.
