They are another reminder of criminal activity designed to defraud people: NatWest boss becomes latest City figure caught in AI social media scam

Date:
Mon, 06 Jul 2026 10:19:33 +0000

Description:
Another top banking figure is the subject of a deepfake image designed to
scam social media users

FULL STORY ======================================================================Copy link Facebook X Whatsapp Reddit Pinterest Flipboard Threads Email Share this article 0 Join the conversation Follow us Add us as a preferred source on Google Newsletter Subscribe to our newsletter NatWest boss depicted in a deepfake image shared widely online The image was "designed to defraud people", according to Natwest Deepfake images and videos of banking figures are becoming increasingly common NatWest boss Paul Thwaite is the latest in a string of top banking figures to become the subject of an AI social media scam.

Thwaite, the chief executive of NatWest, was shown in a deepfake picture with journalist Emily Maitlis in an image designed to imitate a BBC radio interview.

The deepfake was shared widely on X, with one caption attempting to
legitimise the image with the caption, On air, Emily Maitlis raised the NatWest CEOs salary, causing a strong reaction. Latest Videos From Watch full video here: Natwest boss Paul Thwaite depicted in an AI deepfake alongside journalist Emily Maitlis. (Image credit: CityAM) Natwest boss among other banking figures targeted The deepfake refers to Thwaites 33% increase in pay since 2024, with the NatWest boss securing a 6.6m pay package in the last year. A NatWest spokesperson told CityAM , Were working closely with social media platforms to remove these false images.

They are another reminder of criminal activity designed to defraud people especially the vulnerable and we encourage members of the public to stay vigilant and report any suspicious activity. You may like Security experts warn of AI-boosted scam campaigns that can trick even the smartest victims 'Verify before you act': security expert reveals the simple steps you can
take to stay safe from deepfakes 'Deepfake as a service' sees 39% spike in dark web conversations and experts fear it will fuel the next wave of fake boss scams

Deepfakes are fast becoming a serious problem in the financial sector with fake videos, images, and voice recreations being used to trick employees into handing over funds and trick vulnerable people online with fake investment scams.

Vyntras 2026 report found that the deepfake industry has exploded into a $400 billion per year industry , with increases in AI capabilities and computing power allowing scammers to generate highly convincing deepfakes at scale. Are you a pro? Subscribe to our newsletter Sign up to the TechRadar Pro
newsletter to get all the top news, opinion, features and guidance your business needs to succeed! Contact me with news and offers from other Future brands Receive email from us on behalf of our trusted partners or sponsors By submitting your information you agree to the Terms & Conditions and Privacy Policy and are aged 16 or over.

The Bank of England governor Andrew Bailey was recently featured in a
deepfake video alongside Reform UK leader Nigel Farage, with the pair
depicted engaging in a fight before police pull them apart.

Bailey commented on the video, stating, These scams are designed to
criminally exploit the public, especially the vulnerable, when they are online. I would urge everyone to stay vigilant and report these scams. That way authorities can better root out digital deception like this and permanently remove the fraudsters responsible for what is a truly online scourge. How to stay safe Scammers aren't just targeting banking bosses. They're also using the voices of the friends and family of victims in order
to obtain financial information and funds from unsuspecting people.

Here is how to keep yourself safe from deepfakes on social media, phone
calls, and images: Always be wary of emergency phone calls from friends and family, and consider establishing a safe word to be used in emergencies to verify the authenticity of a phone call When receiving calls from people claiming to be your bank, or any other service you use, look up the official number of the organisation and ask to be transferred to the representative
who contacted you. Usually, banks or other services will never ask you to provide payment information, your passwords, or other sensitive information over the phone If you see an investment opportunity online, especially those that are too good to be true or offer a 'get rich quick' pitch, verify the authenticity of the company using the FCA register and check the details and directors of the organisation on Companies House Follow TechRadar on Google News and add us as a preferred source to get our expert news, reviews, and opinion in your feeds.



======================================================================
Link to news story: https://www.techradar.com/pro/security/they-are-another-reminder-of-criminal-a ctivity-designed-to-defraud-people-natwest-boss-becomes-latest-city-figure-cau ght-in-ai-social-media-scam


--- Mystic BBS v1.12 A49 (Linux/64)
* Origin: tqwNet Technology News (1337:1/100)