American Banker Podcast Banks struggle to keep up with threat of AI deepfakes
5 snips
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.
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AI Empowering Realistic Attacks
- Generative AI powers highly realistic cyberattacks like deepfakes and enhanced social engineering.
- Attackers leverage old and new stolen data to create targeted spear phishing and social engineering campaigns.
Security Often Lagging Business Reinvention
- Many banks introduce security vulnerabilities through rushed innovation without embedding security by design.
- Aligning metrics across teams can make security a shared and prioritized responsibility.
Communicate and Update Cybersecurity Training
- Proactively communicate cybersecurity practices transparently to customers, employees, and vendors.
- Continuously update training based on emerging deepfake tactics from threat intelligence including dark web monitoring.