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Is that really your boss calling? Jericho Security raises $15M to stop deepfake fraud that’s cost businesses $200M in 2025 alone
Pentagon-backed Jericho Security raises $15 million to combat deepfake fraud that has already cost North American businesses $200 million in 2025, using AI to detect increasingly convincing voice and video impersonations.
“Within minutes, a sophisticated attacker can now create a voice clone that sounds exactly like your CFO requesting an urgent wire transfer,” said Sage Wohns, co-founder and Chief Executive Officer of Jericho Security, in an exclusive interview with VentureBeat. Unlike conventional security training that relies on static templates and predictable scenarios, Jericho’s platform employs what Wohns calls “agentic AI” — autonomous systems that behave like actual attackers. Industry reports have documented staggering growth rates in recent years, with some studies showing deepfake fraud attempts increasing by more than 1,700% in North America and exceeding 2,000% in certain European financial sectors.
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