American Banker Podcast
Banks struggle to keep up with threat of AI deepfakes
Apr 15, 2025
Valerie Abend, Accenture’s financial services cybersecurity lead, dives into the urgent challenges banks face against AI-driven threats. She reveals how generative AI creates sophisticated deepfakes, complicating security measures. Abend emphasizes the need for banks to adopt proactive strategies and align leadership on cybersecurity. Furthermore, she discusses innovative ways to promote customer trust and awareness without inducing fear, highlighting the importance of transparent communication and collaboration in the fight against evolving banking fraud.
15:22
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Quick takeaways
- Banks struggle to combat AI-based threats as cybercriminals exploit generative AI, creating more sophisticated deepfake attacks that challenge traditional security measures.
- A cultural shift is necessary within banks to prioritize cybersecurity, ensuring security measures are integrated into innovation strategies from the outset.
Deep dives
Cybersecurity Threats from Generative AI
Generative AI is increasingly being leveraged by cybercriminals, posing significant challenges for banks in their cybersecurity efforts. A survey revealed that 80% of cybersecurity executives believe this technology is enabling attackers to craft more sophisticated social engineering attacks, including deepfakes. These realistic impersonations can manipulate not only customers but also bank employees, complicating the process of identifying and combating fraud. The shift toward using large datasets from both recent and historical data enhances the specificity of attacks, making it difficult for traditional defenses to keep pace with evolving threats.
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