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# Deepfake Heists: The Costly New Frontier of Cybercrime
- URL: https://www.thedigitalspeaker.com/deepfake-heists-the-costly-new-frontier-of-cybercrime/
- Published: 2024-05-29T23:49:13.000Z
- Updated: 2026-07-27T05:29:21.000Z
- Description: Can you trust your CFO, or is it just a convincing digital impersonation?
- Author: Dr Mark van Rijmenam, CSP
- Tags: News, #seo-post-1

Can you trust your CFO, or is it just a convincing digital impersonation?

The rise of [deepfake](https://www.thedigitalspeaker.com/digital-ethics-speaker/) technology has introduced a new era of cybercrime, with companies losing millions due to sophisticated scams. Companies like Arup have faced increasing attacks, using deepfakes to manipulate staff into unauthorized transfers.

This growing trend, fueled by generative AI tools, has made it easier for cybercriminals to execute such frauds without needing advanced technical skills.

The technology isn't just a direct threat; it can also be used to spread disinformation, manipulate stock prices, and defame brands. As cybersecurity struggles to keep pace, firms must enhance their defenses with better staff training, robust security protocols, and multiple transaction approvals. How prepared is your company to tackle this emerging threat?

Read the full article on [CNBC](https://www.cnbc.com/2024/05/28/deepfake-scams-have-looted-millions-experts-warn-it-could-get-worse.html?ref=thedigitalspeaker.com).

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