Finance teams authorise payments. Senior leaders are identifiable by voice and by face. Those are the targets.
In 2024, a finance employee at the engineering firm Arup was persuaded to transfer approximately £20 million to fraudulent accounts after a video call that appeared to show colleagues. Those colleagues were not present. The call used pre-recorded deepfakes. No system was compromised. The fraud succeeded through social engineering alone.
The National Cyber Security Centre (NCSC), in its assessment Impact of AI on Cyber Threat from Now to 2027 (7 May 2025), found that AI gives criminals a significant uplift in social engineering and will make attacks more frequent and harder to detect. The uplift is already present.