Our research highlights several key aspects of deepfake fraud. It explores the main deepfake techniques used by fraudsters to bypass Know Your Customer (KYC) and biometric verification systems. It also outlines observed behavior patterns of deepfake fraud, based on insights from the Group-IB Fraud Protection Team. The financial and societal impacts of deepfake fraud are evaluated, emphasizing its growing urgency. Recommendations are provided for financial institutions to enhance their security systems against deepfake-based fraud. Additionally, the document calls for greater awareness within the financial sector about the emerging threat of deepfake technology and the importance of proactive defense measures.