In 2023, global fraud losses reached an estimated $1 trillion, with a notable increase in scams utilizing deepfake technology. These scams, particularly in the financial sector, have been facilitated by identity theft and voice cloning techniques, raising concerns about security. Reports indicate that victims of scam centers, which often lure individuals with fake job offers, come from over two dozen countries and can end up in situations akin to virtual slavery. A recent investigation revealed a large-scale crypto fraud operation in India that defrauded over 2,000 victims, resulting in losses of $2.4 million. The operation was led by Hekmot Ali Sarkar, who remains at large. Additionally, a former scammer shared insights into a sophisticated crypto-scam operation in Dubai, highlighting the methods used to ensnare victims. As deepfakes continue to evolve, experts warn that the potential financial impact could reach $40 billion if detection methods do not improve.