New paper out!

Can a single synthetic video trigger real financial losses?

A research article by Dominika Kuźnicka-Błaszkowska, published in the Capital Markets Law Journal (Oxford University Press), examines how deepfakes are creating systemic risks for financial markets.

Check out the paper in open access: https://academic.oup.com/cmlj/article/21/2/kmag008/8644171

The study shows that synthetic media can manipulate markets by impersonating trusted actors or fabricating events—operating at a speed that outpaces verification, regulation, and institutional response. This challenges core assumptions underpinning market integrity and price formation. Current EU frameworks remain fragmented and reactive, leaving critical gaps in detection, attribution, and enforcement. The paper proposes concrete reforms to better align financial regulation with the realities of AI‑driven information environments. As digital technologies evolve, protecting financial stability increasingly depends on treating synthetic media as a structural risk—not an edge case.

This research is funded by the Polish National Science Centre within the project Beware Financial Stability (2023/51/D/HS5/00077), led by Katarzyna Parchimowicz. Read more about the project: https://digitaljustice.uwr.edu.pl/en/projects/beware-financial-stability-reverse-engineering-of-legal-threats-in-the-areas-of-technology-climate-and-anti-money-laundering-2024-2027/