According to a recent study by Surfshark, global losses from deepfake fraud have reached at least $3.7 billion. The research, which analyzed documented cases from 2020 to mid-2026, reveals an exponential rise in this threat. Social media emerged as the primary launchpad, accounting for 47% of all recorded losses.
Losses surge in the last two years
The study shows a dramatic acceleration. Between 2020 and 2023, losses totaled just $83 million. In 2024 they climbed to $335 million, then surged to $2.5 billion in 2025. In the first half of 2026 alone, losses already reached $764 million. Together, 2025 and 2026 account for 89% of all documented damages. Most of these losses stem from criminals using deepfakes of celebrities and public figures to push fraudulent investment schemes on social networks.
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Social media's central role and other threats
According to Luís Costa, Research Lead at Surfshark, "a single deepfake video can go viral in hours, reaching millions of potential victims before it's detected or removed. No other channel offers that kind of reach at zero cost." However, not every viral deepfake causes harm: an innocent video of a footballer during the World Cup might rack up millions of views without costing anyone a penny, while a fake government post promoting a dubious investment scheme can drain thousands from a single victim. Beyond social media, impersonation fraud is the second-largest category, with $911 million in losses (25%). Criminals use deepfakes to pose as real people or bypass identity checks. Disturbingly, fake job candidate schemes, where AI-generated interviews infiltrate hiring processes, caused about $100 million in damages. Everyday communication channels are also increasingly targeted: phone calls ($71 million), video platforms ($62 million), and messaging apps ($41 million) contributed a combined $174 million. The FBI's latest Internet Crime Report logged $893 million in AI-related losses for 2025, with AI-assisted investment fraud alone accounting for $632 million.
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How to protect yourself from deepfake fraud
Awareness remains the most effective defense, as Costa notes: "when a familiar voice or face can no longer be trusted implicitly, awareness is the only effective defense." For personal calls and messages, he suggests setting up a family "safe word" to confirm identity when a request feels urgent or out of character. On video calls, a "glitch test" can help: ask the other person to wave a hand in front of their face, as deepfakes often blur or distort when facial features are obscured. For more detection tips, refer to specialized resources like Wikipedia. Meanwhile, the regulatory landscape evolves: discussions on artificial intelligence governance continue to divide governments, as seen in ongoing debates. To stay safe, staying informed and adopting simple precautions is essential.
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