I swear, it wasn’t me! – connecting with FinovateSpring Best of Show winner Herd Security on their anti-deepfake fraud prevention solution.
Detailed Summary:
In this episode of the Finovate podcast, host Greg Palmer interviews Brandon Min, founder and CEO of Herd Security, a Best of Show winner at FinovateSpring 2025. Brandon explains that Herd Security focuses on helping organizations build “herd immunity” against generative AI cyber attacks, particularly deepfakes. Unlike competitors who focus solely on detection or training, Herd helps organizations understand their deepfake risk exposure by answering two key questions: what is the organization’s overall vulnerability to deepfakes, and which employees are most susceptible to these attacks. Their approach includes proprietary voice detection algorithms that analyze audio for AI manipulation as part of a comprehensive layered security strategy.
Brandon identifies two primary threat vectors for financial institutions: inbound call centers where fraudsters can use deepfakes to bypass verification systems, and recruitment processes where bad actors might impersonate candidates to gain organizational access. He notes that while deepfake attacks are still relatively uncommon, there have been significant incidents, including a Hong Kong firm losing $25 million to a video deepfake fraud. Brandon emphasizes that organizations should be proactive rather than reactive in addressing these emerging threats, as traditional voice attacks (without deepfakes) have already caused significant damage to companies all over the world.
During his demo, Brandon took a measured approach to raising awareness without fearmongering. He showed the technology’s capabilities by spoofing the host’s voice in a friendly message, then escalated to showing how the same technology could be used in a wire transfer fraud scenario. Brandon stresses the importance of education and preparation, comparing the current situation to early warning signs before a tsunami – we’re seeing the beginning signs of deepfake threats, and while it’s difficult to predict exactly how they’ll evolve, organizations need to understand their vulnerabilities now rather than waiting for a major incident to occur.
More info:
Herd Security: https://www.herdsecurity.io/; https://www.linkedin.com/company/herd-security/
Brandon Min: https://www.linkedin.com/in/brandon-min-356ab290/
Greg Palmer: https://www.linkedin.com/in/gregbpalmer/
Finovate: https://www.finovate.com; https://www.linkedin.com/company/finovate-conference-series/
FinovateSpring: https://informaconnect.com/finovatespring/
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