Anders Fraud Advisor Clay Kniepmann, CPA, CFF, ABV, is featured in Financial Management Magazine discussing his recommendations for how financial professionals can avoid being victimized by deepfake fraud. Kniepmann’s advice arrives just when the stakes couldn’t be higher: organizations across industries are now vulnerable to highly convincing video conference impersonations of executives requesting employees to authorize large transfers — often in the millions — or disclose sensitive data.

Kniepmann suggests being on the lookout for out-of-character behavior that may indicate an impersonation of a real executive is underway.

“‘It’s knowing who you work with,’ Kniepmann said. ‘Know who that approver is, what their personality is like.'”

Additionally, Kniepmann recommends that the topic of deepfake fraud be added to security curriculum educating employees on this innovative fraud risk.

“Companies also could start to test how employees respond to mock fraud attempts involving deepfakes, Kniepmann suggested — similar to how many organisations send mock phishing emails.”

Lastly, companies should take a look at their internal controls to ensure that only necessary personnel are authorized to make large financial and data decisions. “‘I am all for any reason to revisit your internal controls,'” Kniepmann said.

Read the article to learn more about the insights Clay shared to help financial services firms address deepfake fraud: How Accountants Can Combat the Rising Threat of Deepfake Fraud

Learn more about Anders fraud and forensic accounting services.