“A lie can travel halfway around the world while the truth is still putting on its shoes.” The quote is often attributed to Mark Twain, however, he never said it. The quote’s origin is unknown, but the concept that lies spread quickly while truth spreads slowly like disinformation is an old one.
The quote attributed to “Twain” illustrates the distinction between misinformation and disinformation. Misinformation is an error that is spread unintentionally, while disinformation is false information disseminated with the intent to deceive or harm.
In contrast, disinformation is a deliberate deception. Its aim is to deceive, cause harm or gain an advantage by spreading false information. As long as spreading lies is profitable and effortless, businesses must be able to adapt quickly.
It all comes down to the intent behind spreading the information. The goal of the person or group sharing the data is crucial. Real-world examples demonstrate the harm caused by these falsehoods and the potential for future abuse they create.
In 2019, scammers utilized AI technology to impersonate the voice of a CEO of a European energy company. They made a phone call using the artificial voice and urgently requested an employee to transfer €220,000 ($243,000) to a Hungarian vendor within 60 minutes. The scammers, anxious as the money did not arrive as quickly as they expected, made two more calls. This raised the employee’s suspicion. However, by then it was too late to recall the funds, and the scammers were able to obtain the money. Fortunately, the company was protected from financial loss by fraud insurance.
Though minimal harm was caused, this incident served as a warning of potential future danger. This was the first recorded instance of AI being used to imitate a voice for fraudulent purposes. Cybersecurity experts anticipate that the next development will be the use of AI to replicate both voice and facial expressions. If the imitation appears and sounds genuine, it will raise no suspicions, making the scam harder to detect and hence more profitable.
Disinformation can have multiple objectives and the COVID-19 pandemic provided a significant opportunity for scammers. A scam from 2021 highlighted the trend of Disinformation-as-a-Service, where an external party pays for social media influencers to spread and promote disinformation. Fazze, a PR agency that appears to have Russian government backing, approached successful YouTubers to criticize the Pfizer vaccine. Offering large sums of money, the company asked the influencers to spread disinformation, not to disclose their sponsorship, and to present themselves as if they were sharing information. The scheme was exposed when a few YouTubers went public about the strange offer. The BBC reported speculation of Russia’s connection to the scheme to promote their own vaccine, Sputnik V, illuminating how nation-state attacks often initiate disinformation campaigns.
Small and medium-sized businesses (SMBs) can also be targeted. Disinformation spread through the fake review market has a significant impact on small, local businesses. A study on the direct impact of fake reviews on online spending estimated that fake reviews caused businesses to lose $152 billion globally in 2021. The study cites an example of an Australian plastic surgeon whose business decreased by 23% in a single week following a fake review. Similarly, a plumbing business based in California lost 25% of its business when a rival posted a fake review. In New York, two busing companies discovered that fake positive reviews effectively redirected business from one company to the other.
Disinformation can be financially rewarding, making it a challenge for businesses of all sizes to deal with. Fortunately, there are actions that can be taken when facing a disinformation or misinformation attack.
Preventative measures are more straightforward and less expensive than trying to combat a disinformation campaign that has spiraled out of control. There are various preventative actions that can be taken to enhance your protection.
Here at CourseMonster, we know how hard it may be to find the right time and funds for training. We provide effective training programs that enable you to select the training option that best meets the demands of your company.
For more information, please get in touch with one of our course advisers today or contact us at training@coursemonster.com