More than one in five organizations said they have experienced payment fraud resulting from AI-driven deepfake or executive impersonation attacks, according to a survey by security platform provider Trustmi of financial professionals in the financial services and four business sectors. The survey found that 22% of respondents said they have been targeted for payment fraud, with 12.3% experiencing executive impersonation attacks and 9.6% experiencing deepfake attacks.
Despite advancements in deepfake technology, compromised business email remained the most likely avenue for payment fraud, with 42% of organizations saying they were defrauded through email schemes. Social engineering (19%) and employee collusion (16%) were also top causes of fraud. Most respondents said they didn’t know how much their organizations lost to fraud, although roughly 21% said there were no losses while 18% said it was under $500,000. Less than 10% reported losing more than $500,000.
