From www.journalofaccountancy.com: Deepfake fraud poses a significant risk to finance professionals, exemplified by a real incident where a fake video call resulted in a $25.6 million scam at the firm Arup.

A Deloitte survey revealed that 26% of executives experienced deepfake attacks within the past year, with expectations for such incidents to rise.

To combat this threat, finance organisations should enhance anti-fraud training, reinforce internal controls for large transactions, encourage personal connections among employees, and adopt AI-detection technologies.