The rise of AI deepfake technology is creating significant challenges in fraud detection and prevention. The CEO of anti-fraud and authentication company Pindrop expressed optimism about combating deepfakes despite the decreasing costs of creating them. However, the increasing sophistication of deepfakes has led to substantial financial losses. In New Zealand, a pensioner lost $224,000 in a $220k cryptocurrency investment scam involving a deepfake of Christopher Luxon. Similarly, Americans have lost billions to investment scams made harder to detect by deepfake videos. The growing prevalence of AI face clones poses additional risks to the fintech sector, potentially triggering an identity crisis.